Citigroup Inc. (C)

Banque Saudi Fransi Sets Up $2 Billion Islamic Bond Program

Banque Saudi Fransi arranged a $2 billion Islamic bond program as part of the Riyadh-based lender’s plans to mix up its sources of financing.
Islamic bond sales in Saudi Arabia, the world’s largest oil exporter, progressed to a record $6.55 billion so far this year as the government’s spending plan encourages companies to raise funds to invest.
Lead arrangers of the program were Citigroup Inc. (C), Credit Agricole, Deutsche Bank AG (DBK).

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