Banque Saudi Fransi successfully completes the issue of subordinated Sukuk for SR. 1.9 Billion out of SR. 2.5 Billion

Referring to BSF announcement published on Tadawul website on 11/11/2012, Banque Saudi Fransi announces that it successfully closed a private placement offer in Saudi Arabia of its SAR 1.9 billion subordinated sukuk (the Sukuk) out of SR. 2.5 Billion on 18 December 2012.

The remaining part of the issue will be launched at a later date subject to the Banks requirements.

The Sukuk, which will support the bank's capital base, has a seven-year maturity but can be redeemed by BSF after the end of the fifth year, and is priced at 110 basis points over 3-month SIBOR.

The Sukuk will support the Bank's growth plans and extends the maturity profile of its liabilities while continuing to diversify its sources of funding.

The Sukuk issue has taken place after receiving the required approvals from the shareholders and the regulatory authorities.