Riyadh - Mubasher: Banque Saudi Fransi (BSF) plans to issue USD-denominated Tier 2 capital notes under its medium-term note program.
The issuance, expected to take place through a special purpose vehicle, will be offered to eligible investors in Saudi Arabia and abroad, according to a bourse filing.
On 18 May, the bank’s board approved the transaction, authorizing executive management to proceed with the measures.
The size and terms of the notes offering will depend on market conditions, and proceeds will be allocated for general banking purposes.
Banque Saudi Fransi appointed ADCB, Citigroup, DBS, Emirates NBD, HSBC, Mashreq Bank, Mizuho International, and Saudi Fransi Capital as joint lead managers.
It is worth highlighting that the offer is subject to regulatory approvals and will comply with applicable laws.
In the first half (H1) of 2025, Banque Saudi Fransi generated net profits totaling SAR 2.74 billion, signaling a 20.27% year-on-year (YoY) rise from SAR 2.27 billion.
