BSFR planning $533m sukuk

May 14, 2014 2:06 am

Banque Saudi Fransi (BSFR), the Saudi lender part-owned by Credit Agricole, is planning to raise about SR2bn ($533m) to boost its capital base, Bloomberg has reported, citing to two people familiar with the matter. The Riyadh-based lender’s investment banking arm, Saudi Fransi Capital, will help arrange the sale of capital-boosting Tier 2 sukuk, the people said. The sale could take place within the next month, according to the people.