BSF announces debut USD 750 million Asian syndicated loan transaction

26/Nov/2024

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The transaction unlocks significant liquidity potential for BSF, reinforcing the Kingdom's growing appeal to Asian investors.

The debut Asian syndicated transaction recorded more than 2x oversubscription, highlighting the strong investor appetite for BSF and more broadly the Kingdom.

21 November 2024, Riyadh, Saudi Arabia – BSF, one of the leading Saudi banks, today announced that it has secured a landmark USD 750 million (≈SAR 2.8 billion), five-year Asian syndicated loan facility, solely coordinated and arranged by Mizuho. The transaction was highly successful, benefitting from more than 2x over-subscription, with 26 investors joining the syndicate.

The landmark transaction follows a deal roadshow to key Asian markets (Tokyo, Taipei, Hong Kong and Singapore). During the Mizuho coordinated roadshow, BSF met with 64 investors, representing USD25tn in AuM.

This successful foray into the Asian market has unlocked new liquidity for BSF and sets a precedent for Saudi financial institutions seeking funding diversification. The transaction reinforces the Kingdom's growing appeal to international investors and supports the broader economic diversification goals outlined in Saudi Vision 2030.

Bader Alsalloom, Chief Executive Officer of BSF, said: “This transaction represents a significant achievement for BSF, diversifying our funding base and connecting us with a key pool of Asian investors. This capital will fuel our strategic growth initiatives and ultimately benefit our customers and the wider economy.”

The proceeds will be used for general corporate purposes, strengthening BSF’s financial position and supporting its continued efforts to deepen the financial sector by diversifying the sources of funding.