Riyadh – Mubasher: Banque Saudi Fransi started the offering of its dollar-denominated notes under the Medium Term Note Programme at a par value of $200,000.

The offering will take place during 16-17 November 2022, according to a recent bourse disclosure.

The notes hold a maturity period of five years. Meanwhile, the bank will determine the number and value of the offered notes based on market conditions.

Furthermore, the minimum subscription is valued at $200,000 with increments worth $1,000.

The Saudi lender mandated Citigroup Global Markets Limited, J.P. Morgan Securities plc, HSBC Bank, Merrill Lynch International, Standard Chartered Bank, and Saudi Fransi Capital as joint lead managers for the offering.

In the first nine months (9M) of 2022, Banque Saudi Fransi recorded an 8.75% growth in net profits to SAR 2.67 billion, compared to SAR 2.45 billion in 9M-21.