Banque Saudi Fransi celebrates the successful completion of a new syndicated borrowing

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Looking originally for a $300m term loan, the syndication has received a strong response from the market and was substantially oversubscribed.

The facility was structured between a three-year and a five-year tranché.

The program was syndicated by Sumitomo Mitsui Banking Corporation ('SMBC'), Calyon ('Calyon'), Intesa Sanpaolo S.p.A. ('Intesa'), Raiffeisen Zentralbank Österreich AG ('RZB'), and WestLB AG, who were the Mandated lead Arrangers selected by Banque Saudi Fransi.

Considering the transaction as a success, Mr. Jean Marion, the Managing Director of Banque Saudi Fransi declared 'this is a major breakthrough for the Saudi Financial sector as no operation of that nature and of that size has been completed by a local entity in the international Market since the end of 2006.

It proves that investors have a strong view on the Saudi economy and its ability to continue to grow in a manner which is conducive to deliver sound returns with a sound risk profile. It also says that Banks, with a diversified generating revenue stream, strong Risk management systems and a clear strategy are attracting the interests of overseas Investors'.

Mr. Marion wanted to thank the remarkable job performed by the MLAs since the launch of the operation which commenced on the 7th of August 2008.

It is the second transaction of this nature realized by Banque Saudi Fransi.

The Bank last came to the market in June 2005 with a $650m five-year deal arranged by Calyon (books), Citigroup (books), Deutsche (books), GIB and SMBC.

Banque Saudi Fransi was established by Royal Decree in 1977 and it is the fifth largest Saudi Arabian bank in terms of assets.

Calyon holds a 31.1% stake in the bank.