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Bahrain’s GIB Plans 2bn Saudi Riyal Note Issue

Bahrain’s GIB Plans 2bn Saudi Riyal Note Issue

Gulf International Bank plans to issue floating rate notes with a lifespan of five years through a private placement in Saudi Arabia.

Bahrain’s Gulf International Bank plans to issue a 2 billion-riyal ($545 million) floating rate notes with a lifespan of five years through a private placement in Saudi Arabia, a prospectus showed on Sunday.

The bank mandated its own investment banking arm, GIB Capital, as well as those of National Commercial Bank, Samba Financial Group and Banque Saudi Fransi to act as joint lead managers and joint bookrunners. Investor meetings will take place in Saudi Arabia on April 21 and 22.

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