Banque Saudi Fransi intends to issue additional Category 1 Sukuk in Saudi Riyals.
According to Arabiyanet, the bank has separately appointed Banque Saudi Fransi Capital as the lead manager, lead coordinator, and lead manager of the potential private placement.
and the bank indicated that it will determine the number and value of the sukuk issued according to market conditions.
On the purpose of the issue, he said that the purpose of the potential issuance is to strengthen the bank's capital base in accordance with the Basel III framework. The potential offering is subject to relevant laws and regulations. >
It should be noted that this announcement does not constitute an invitation or an offer to buy, own or subscribe to any securities. It is also subject to the terms and conditions of the sukuk. The bank will announce to its valued shareholders any other material developments at that time.
