The Clap
Banque Saudi Fransi (1050) raised $700 million through the issuance of dollar sukuk as part of its sukuk issuance program.
What
The sukuk were offered through a targeted presentation to qualified investors, both within and outside the Kingdom.
So What
The sukuk carries an annual yield of 5%, with a maturity period of 5 years.
Some Context
The sukuk can be redeemed before the maturity date under certain conditions, as outlined in the offering circular regarding the sukuk and its issuance program.
Now What
The bank stated that the sukuk will be listed on the International Securities Market of the London Stock Exchange.
