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Banque Saudi Fransi (BSF) completes offerings of its $650 million US dollar-denominated six-year non-call perpetual AT1 bond, with a reset margin of +252 basis points and a 6.375% coupon.
The final order book was in excess of $1.9 billion.
The issuance comes under BSF’s $3 billion AT1 Capital Note Programme.
The issue date is set as May 7, 2025, with the AT1 bond to be listed on the London Stock Exchange.
BSF is rated A1 (stable) by Moody’s, and A- (stable) by S&P and Fitch.
HSBC, Abu Dhabi Commercial Bank, Saudi Fransi Capital, Citigroup Global Markets, Crédit Agricole Corporate and Investment Bank, Emirates NBD Capital, Mashreqbank, Merrill Lynch Kingdom of Saudi Arabia, MUFG Securities EMEA plc and Mizuho International plc have been appointed as joint lead managers.
(Writing by Bindu Rai, editing by Seban Scaria)
