Banque Saudi Fransi Completes SAR 5 Billion Additional Tier 1 Sukuk

Saudi Arabia-based bank, Banque Saudi Fransi (BSF) has announced the completion of its offering of SAR 5 billion worth of SAR-denominated Additional Tier 1 Sukuk on the 4th of November 2020, according to a filing released on the Saudi Stock Exchange (Tadawul).

The Sukuk offering, which was issued through private placement on the 19th of October 2020, has a total number of 5,000 Sukuk based on the minimum denomination and total issue size, with a par value of SAR 1 million and a perpetual maturity.

According to the Tadawul filing, the annual return rate of the Sukuk is 4.5% which is valid from the issue date up to (but excluding) the 3rd of November 2025, after which it will be res...