Banque Saudi Fransi announced the completion of the offering of US dollar-denominated sukuks subject to the sukuk issuance program, with a value amounting to $700 million, through an offer directed to qualified investors inside and outside the Kingdom of Saudi Arabia.
The bank explained in a statement on Tadawul that the total number of instruments reached 3,500 instruments (based on the minimum currency denomination and the total issue size), with a nominal value of $200,000, and a return of 5% per year per instrument.
He stated that the maturity period of the sukuk is 5 years, and the sukuk can be redeemed before the maturity date in certain cases, as detailed in the basic offering circular regarding the sukuk and the sukuk issuance program.
He added 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.
Version details | |
Version type | Sukuk denominated in US dollars subject to the sukuk issuance programme |
Offer value | 700 million dollars |
Total number of instruments | 3500 checks |
The face value of the instrument | 200 thousand dollars |
Instrument return | 5% per year |
The maturity period of the instrument | 5 years |
Conditions for eligibility for refund | The Sukuks may be redeemed before the maturity date in certain cases as detailed in the Basic Offering Circular in relation to the Sukuks and the Sukuk Issuance Programme. |
