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The initial price thoughts (IPTs) for Banque Saudi Fransi's (BSF) Reg S US dollar-denominated six-year AT1 bond are in the 6.875% area.
The issuance will come under BSF’s $3 billion AT1 Capital Note Programme, with the pricing to be announced later today.
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)
