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Banque Saudi Fransi (BSF) announces its intention to issue U.S. Dollar denominated additional tier 1 capital notes under its Additional Tier 1 Capital Note Programme.
| Element List | Explanation |
|---|---|
| Introduction | Banque Saudi Fransi (the “Bank”) announces its intention to issue U.S. Dollar denominated additional tier 1 capital notes (the “Notes”) under its Additional Tier 1 Capital Note Programme (the “Additional Tier 1 Capital Note Programme”) based on its Board of Directors resolution dated (19/08/2024G corresponding to 15/02/1446H) in which it delegated certain Executive Management members with all powers and authority necessary or appropriate on behalf of the Bank to establish the Additional Tier 1 Capital Note Programme and to carry out the issuance of any Series of Notes from time to time. The issuance is expected to be by way of an offer to eligible investors in the Kingdom of Saudi Arabia and internationally. The Bank has mandated Abu Dhabi Commercial Bank PJSC, Citigroup Global Markets Limited, Crédit Agricole Corporate and Investment Bank, Emirates NBD Bank P.J.S.C., HSBC Bank plc, , Mashreqbank PSC, Merrill Lynch Kingdom of Saudi Arabia, Mizuho International plc, MUFG Securities EMEA plc and Saudi Fransi Capital as joint lead managers. |
| Offer Type | U.S. Dollar-denominated additional tier 1 capital notes under the Additional Tier 1 Capital Note Programme. |
| Date of the board’s decision | 2024-08-19 Corresponding to 1446-02-15 |
| Value of the offer | The amount and terms of the offer of the Notes will be determined subject to the market conditions. |
| The Purpose of the offer | To improve the Bank’s Tier 1 capital and for general banking purposes. |
| Approvals | The offer of the Notes will be subject to the approval of the relevant regulatory authorities and will be made in compliance with applicable laws and regulations. |
| Additional Information | This announcement is not intended as an invitation of offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Notes. The Bank will announce any other relevant material developments to its shareholders in due course as required by the relevant rules and regulations. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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