Riyadh – Mubasher: Banque Saudi Fransi (BSF) on Thursday announced its plans to redeem its 2012 sukuk in full at their par value (100% of issue price) by on 18 December 2017 at a value of SAR 1.9 billion.

The sukuk will be redeemed by the end of their fifth year, they are under the symbol 1051, and distributed over 1,900 sak at a par of value of SAR 1 million per share, according to a statement to the Saudi Stock Exchange (Tadawul).

The original maturity date of sukuk is seven years, (due in 2019), whereas they will be redeemed during 2017 after obtaining regulatory approvals.

The redemption amount, and the periodic distribution amount will be transferred to sukukholders accounts on 18 December based on their ownership which was registered on 11 December.

BSF’s stock rose 1.4%, closing at SAR 28.90 on Thursday.