The Clap
Banque Saudi Fransi (1050) started issuing bonds denominated in US dollars as part of the medium-term bond program.
What
The bank offered its dollar bonds through a special purpose company, and through an offer directed to qualified investors inside and outside Saudi Arabia.
The number of bonds and their terms will be determined depending on market conditions.
So What
The bank indicated that the minimum subscription is $200,000, with increments of $1,000 or more.
The offering price and return of the Sukuk will be determined according to market conditions and the Sukuk’s maturity period will be 5 years.
Now What
The bonds will be listed on the London Stock Exchange.
