Riyadh – Mubasher: Banque Saudi Fransi (BSF) on Sunday said it plans to issue SAR-denominated Additional Tier 1 Sukuk to strengthen its capital base in accordance with the Basel III framework agreement.

The number and value of the potential Sukuk offer will be determined based on market conditions, the Saudi bank said in a bourse statement.

Saudi Fransi Capital has been appointed as a sole bookrunner, lead arranger, and lead manager for the potential private placement offer.

The Saudi lender further noted it will disclose any other relevant material developments in due course.