Riyadh – Mubasher: Banque Saudi Fransi began issuing US dollar-denominated certificates for eligible investors in Saudi Arabia and internationally, according to a bourse filing.
Under the trust certificate issuance programme, the offering will take place from 18 January to 19 January 2024.
Meanwhile, the amount and terms of the offer of the certificates will be determined subject to market conditions.
The minimum subscription amount stands at $200,000, with an increment of $1,000 in excess thereof.
Holding a tenor of five years, the Sukuk may be redeemed before the scheduled maturity date in certain cases as detailed in the issuance programme.
Banque Saudi Fransi mandated Citigroup Global Markets Limited, Emirates NBD, HSBC Bank, Merrill Lynch International, Mizuho International, and Saudi Fransi Capital as joint lead managers.
During the January-September 2023 period, the Saudi-listed lender logged net profits valued at SAR 3.39 billion, an annual surge of 27.06% from SAR 2.67 billion.
Earnings per share (EPS) hit SAR 2.69 in the first nine months (9M) of 2023, up from SAR 2.08 in 9M-22.
