Banque Saudi Fransi plans US dollar-denominated bond issuance

Logo of Banque Saudi Fransi 

Banque Saudi Fransi (BSF) plans a US dollar-denominated bond issuance under its Medium-Term Note (MTN) Program.

The issuance is expected to be through a special purpose vehicle (SPV) and will be offered to eligible investors in Saudi Arabia and internationally, the bank said in a statement to Tadawul.

Citigroup Global Markets Limited, J.P. Morgan Securities plc, HSBC Bank plc, Merrill Lynch International, Standard Chartered Bank and Saudi Fransi Capital were mandated by BSF as joint lead managers.

The value and terms of the offering will be determined subject to the market conditions.

The offering will be subject to the approval of the relevant regulatory authorities and will be made in compliance with applicable laws and regulation.

Any other developments will be disclosed later, the bank added.