Banque Saudi Fransi (BSF) announces its intention to issue Additional Tier 1 Sukuk denominated in Saudi Arabian Riyals
| Element List | Explanation |
|---|---|
| Introduction | Banque Saudi Fransi (the “Bank”) announces its intention to issue by way of private placement in the Kingdom of Saudi Arabia a SAR denominated Additional Tier 1 Sukuk under its SAR 8,000,000,000 Additional Tier 1 Capital Sukuk Programme (the “Programme”) based on its Board of Directors resolution dated (22-01-2024G Corresponding to 10-07-1445H) in which it delegated certain Executive Management members with all powers and authority necessary or appropriate on behalf of the Bank to establish the Programme and to carry out the issuance of any Series of Sukuk from time to time.
The Bank has mandated Saudi Fransi Capital as Sole Bookrunner, Lead Arranger and Lead Manager for the potential private placement offer. |
| Offer Type | Additional Tier 1 Sukuk denominated in Saudi Arabian Riyals under the SAR 8,000,000,000 Additional Tier 1 Capital Sukuk Programme |
| Date of the board’s decision | 2024-01-22 Corresponding to 1445-07-10 |
| Value of the offer | The number and value of any Sukuk to be offered will be determined based on market conditions. |
| The Purpose of the offer | The purpose of the potential offer is to strengthen the Bank’s capital base. |
| Approvals | The offer of the Certificates will be subject to the approval of the relevant regulatory authorities and will be made in compliance with applicable laws and regulations. |
| Additional Information | This announcement is not intended as an invitation of offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk. The Bank will announce any other relevant material developments to its shareholders in due course as required by the relevant rules and regulations. |
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