Banque Saudi Fransi plans to issue a five-year benchmark-sized Islamic bond, or sukuk, arranging banks said on Monday, after the lender completed investor meetings last week.
An issue would be the Saudi bank's first sukuk under a recently-established $2 billion programme.
Initial guidance for the sukuk was at 200 basis points over midswaps. Benchmark is usually understood to be at least $500 million.
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