Saudi-listed Banque Saudi Fransi (BSF) plans to issue a Saudi Riyal (SAR)-denominated sukuk (Islamic bonds) through a private placement under its SAR 8 billion tier 1 capital sukuk programme.

The potential sukuk aims to strengthen the bank’s capital base.  

The lender has mandated Saudi Fransi Capital as sole bookrunner, lead arranger and lead manager for the potential private placement offer.

The number and value of sukuk will be determined based on market conditions.    

The sukuk issuance will be subject to regulatory approvals.  

(Editing by Seban Scaria seban.scaria@lseg.com )