BSF Successfully Completes $1 Billion Tier 2 Bond Issuance, Oversubscribed 4x with Strong International Demand

27/Aug/2025

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Riyadh – August 26, 2025:

BSF has successfully completed the issuance of US$1 billion Tier 2 bonds under its Medium Term Note (MTN) program, following exceptionally strong demand, with total orders exceeding the issuance size by more than four times. This oversubscription reflects the high level of confidence international investors place in the bank’s credit strength and market position.

At peak demand, the issuance attracted orders of over US$4 billion, underscoring the strong appetite from global fixed-income investors for BSF’s credit profile and highlighting the bank’s active engagement with international investors.

The orderbook was highly diversified across geographies, with the majority of the allocations placed with international investors. This reflects BSF’s strong global reach and demonstrates the strong investor following that BSF enjoys, as well as its reputation as a frequent issuer with a liquid secondary curve.

The bonds carry a maturity of ten years with a five-year call option and are structured as regulatory Tier 2 capital, strengthening the bank’s capital base and providing greater flexibility to support its long-term strategic ambitions.

BSF appointed the following banks as joint lead managers for the issuance: Abu Dhabi Commercial Bank, Citigroup Global Markets Limited, DBS Bank, Emirates NBD, HSBC, Mashreq Bank, Mizuho International, and BSF Capital.

This successful transaction marks an important milestone in BSF’s growth journey, reaffirming its ability to access international debt capital markets efficiently while providing high-quality investment opportunities.