Banque Saudi Fransi announced the completion of its $900 million dollar-denominated sukuk offering.
The bank stated, in a statement today, Wednesday, on Tadawul Saudi Arabia, that the settlement of the sukuk issuance will be on the date of May 31, 2023, indicating that the total number of sukuk amounted to about 4,500 (based on the minimum currency denomination and the total volume of the issue), and the nominal value of the sukuk was about 200. One thousand dollars, while the yield of the instrument amounted to about 4.75%, with a maturity of 5 years.
The bank also indicated that the sukuk will be listed on the international stock market on the London Stock Exchange, noting that the sukuk may only be sold in accordance with Regulation (S) of the US Securities Act of 1933 as amended.
The bank added that sukuk can be redeemed before the maturity date in certain cases, as detailed in the basic offering circular regarding sukuk and the Trust Certificate Issuance Program.
Yesterday, Tuesday, May 23, Banque Saudi Fransi announced the start of offering sukuk denominated in US dollars, subject to the sukuk issuance program.
