{"id":82032,"date":"2024-01-18T00:00:00","date_gmt":"2024-01-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/18\/saudi-fransi-hires-advisors-to-quarterback-potential-fcy-sukuk-issuance\/"},"modified":"2024-01-18T00:00:00","modified_gmt":"2024-01-18T00:00:00","slug":"saudi-fransi-hires-advisors-to-quarterback-potential-fcy-sukuk-issuance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/18\/saudi-fransi-hires-advisors-to-quarterback-potential-fcy-sukuk-issuance\/","title":{"rendered":"Saudi Fransi hires advisors to quarterback potential FCY sukuk issuance"},"content":{"rendered":"

BSF <\/strong>gears up for a USD-denominated sukuk issuance:<\/strong> Banque Saudi Fransi (BSF) is planning to debut a USD-denominated sukuk issuance, the lender said in a disclosure to Tadawul<\/a> yesterday. There\u2019s still no publicly available information about the size and terms of the potential transaction.<\/p>\n

What we know: <\/strong>The issuance will be made available for subscription to local and international investors through a special purpose vehicle with proceeds earmarked to support the lender\u2019s Islamic finance business.<\/p>\n

ADVISORS- <\/strong>BSF has hired Citigroup Global Markets, Emirates NBD Bank, HSBC Bank, Merrill Lynch International, Mizuho International, and Saudi Fransi Capital as joint lead managers on the transaction. <\/p>\n

Not the first: <\/strong>The potential issuance will be part of the lender\u2019s USD 4 bn trust certificate issuance program, rated A- by S&P global<\/a>. Last year, BSF closed a USD 900 mn RegS senior unsecured sukuk issuance<\/a> that was 3x oversubscribed. The London-listed issuance offered an annual yield of 4.75% with a five-year maturity. <\/p>\n

!_InsertKSASponsorBlock_!<\/p>\n","protected":false},"excerpt":{"rendered":"

The proceeds will be earmarked for supporting the lender\u2019s Islamic finance business<\/p>\n","protected":false},"author":1,"featured_media":82033,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2631],"tags":[136,178,179],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-islamic-finance","tag-cabinet-watch","tag-palestine","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"9a8a58c6-66ec-4cca-8f62-2d72170165ac","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/1418.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Banque Saudi Fransi hires advisors to quarterback its potential FCY sukuk issuance","related_issue":[82020],"teaser":"The proceeds will be earmarked for supporting the lender\u2019s Islamic finance business","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.b78fc9b1-0f3e-4b09-b4af-9be6934e1c2d.mp3"},"yoast_head":"\nSaudi Fransi hires advisors to quarterback potential FCY sukuk issuance - 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