Banque Saudi Fransi raises $750 million from the issuance of sukuks

Banque Saudi Fransi (BSF) announced the completion of its offering of US dollar-denominated Sukuks as part of its Trust Certificate Issuance Programme.
The bank said in a statement on the Saudi Tadawul: The value of the offering is $750 million.
He added that the total number of sukuks is 3,750 (based on the minimum currency denomination and the total issue size).
He stated that the nominal value of the instrument is $200,000, while the instrument’s return is 5.375% per year.
He pointed out that the maturity period of the instrument is 5 years.
According to the bank, the Sukuk can be redeemed before the maturity date in certain cases, as detailed in the basic offering circular regarding the Sukuk and the Trust Certificate Issuance Programme.