Banque Saudi Fransi to conclude $533m sukuk by end-June

June 12, 2014 12:42 am

Saudi Arabia’s fourth-largest listed lender, Banque Saudi Fransi (BSF) is to will complete a SR2bn ($533m) capital-boosting sukuk issue by the end of this month, Reuters has reported, citing banking sources. The lifespan of the Islamic bond is ten years but it has a clause that allows the bank to repay the deal after five years, two of the sources said. One of them added that order books were scheduled to close at the end of this week, and the transaction would likely complete in the days after that.