Riyadh – Mubasher: Banque Saudi Fransi has closed the offering of dollar-denominated notes at a total value of $700 million on 17 November, according to a bourse disclosure.

The total number of the notes reached 3,500 at a par value of $200,000 each, while the annual rate of return stood at 5.50%.

Banque Saudi Fransi pointed out that the notes, which hold a tenor of five years, can be redeemed in certain cases as detailed in the offering circular.

The Saudi lender commenced the issuance of its dollar-denominated notes under the Medium Term Note Programme on 16 November 2022.

In January-September 2022, the bank’s net profits increased by 8.75% to SAR 2.67 billion, compared to SAR 2.45 billion in the year-ago period.