Banque Saudi Fransi Commences Issuance of SAR-Denominated Additional Tier 1 Sukuk

Saudi Arabia-based bank, Banque Saudi Fransi (BSF) commenced the issuance of its SAR-denominated Additional Tier 1 Sukuk on the 19th of October 2020, through a private placement offer, according to a filing released on the Saudi Stock Exchange (Tadawul).

BSF stated that the minimum subscription for the issuance is SAR 1 million with a perpetual maturity, with a par value of SAR 1 million. The number and value of any Sukuk offered will be determined based on market conditions, with the listing price and return also subject to market conditions.

The issuance of the Sukuk, which will end on the 8th of November 2020, targets sophisticated investors as defined in Tadawul’s Article...