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Saudi Arabian lender Banque Saudi Fransi intends to issue US dollar-denominated certificates under its Trust Certificate Issuance Programme.
The size and terms of the offer will be determined subject to market conditions, the lender said in a Tadawul filing on Wednesday.
The issuance is expected to be through a special purpose vehicle to eligible investors in Saudi Arabia and overseas. The proceeds of the issuance will be used in the bank's Islamic finance business.
The bank has mandated Citigroup Global Markets Limited, Emirates NBD Bank, HSBC Bank plc, Merrill Lynch International, Mizuho International plc and Saudi Fransi Capital as joint lead managers.
In 2022, the bank issued $700 million in five-year dollar-dominated bonds under its Medium Term Note Program. The notes, with a maturity of five years, were listed on the London Stock Exchange.
(Writing by Brinda Darasha; editing by Seban Scaria)
