Banque Saudi Fransi announced the pricing of the inaugural issue of notes under its EMTN program in the amount of $650 million. The 5-year notes, which mature in 2015, were priced at 99.543, implying a spread of 175 bps over mid swaps. The notes pay an annual coupon of 4.25 percent on a semiannual basis. The transaction was 5.6 times oversubscribed.
