Banque Saudi Fransi signs US Dollar 650 million loan facility

The deal was arranged and underwritten by a group of five Banks including CALYON Corporate and Investment Bank, Deutsche Bank, Citibank, Gulf International Bank and Sumitomo Mitsui Banking Corporation.

The initial deal size was USD 500 million which had to be increased to USD 650 million due to the strong response received from the banking market.

"The reason for its success is attributed to the bank's fundamentals, its standing in the Saudi Market and its ties with one of the largest banks in the world", said Jean Marion, Managing Director of BSF. He remarked "the success of the deal reflects the financial strength of the bank and how highly the bank is regarded not only in the Middle East but also in Europe and Asia".

BSF is a Saudi Arabian Joint Stock Company established by Royal Decree No. M/23 dated June 4, 1977. It is affiliated with CALYON which holds an equity interest of 31.1%. Calyon is part of the Credit Agricole Group, the largest bank in France, and among the world's top ten banks by total equity.

The Bank operates through specialized lines of business based at its Head Office, and at its three Regional Offices (Jeddah, Riyadh, AlKhobar) and through 60 branches located in the major cities of the Kingdom.