Riyadh – Mubasher: Banque Saudi Fransi (BSF) on Sunday announced plans to early redeem its SAR 2 billion tier 2 sukuk at full face value on 18 June.

The Islamic bonds, originally maturing on 18 June 2024, were issued on 18 June 2014 for SAR 2 billion, qualifying as tier 2 subordinated debt in line with Basel III framework, the lender said in a statement to the Saudi Stock Exchange (Tadawul).

The redemption amount of the 2,000 sukuk will be transferred to sukukholders on 18 June based on their respective holdings as of 11 June.

BSF’s stock rose 0.4% to close at SAR 37.10 on Sunday.