BSF to issue $533m Islamic bond by end-June | BSF to issue $533m Islamic bond by end-June -
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BSF to issue $533m Islamic bond by end-June

: Tuesday, May 20 - 2014 @ 00:53

Banque Saudi Fransi (BSF) plans to sell an Islamic bond, worth around SR2bn ($533m), to boost its capital, with a deal likely to happen by the end of June, Reuters has reported, citing two banking sources aware of the matter. The sukuk will enhance the bank’s Tier 2, or supplementary, capital. BSF’s total capital adequacy ratio at the end of March, which combines both Tier 1 and Tier 2 capital and is a key indicator of the bank’s financial health, stood at 15.57%, down from 16.29% at the same time last year, according to its latest financial statement. Its total capital adequacy ratio at the end of March was 15.63%.

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Tuesday, May 20- 2014 @ 0:53 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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