Middle East Economic Survey

VOL. LII

No 45

9-Nov-2009

Bahrain

GIB Issues First Saudi-Denominated Bond

Bahrains Gulf International Bank (GIB) last week issued its first Saudi riyal denominated bond, offering it to institutional investors in the Kingdom through private placement. The bond is expected to improve the maturity profile of GIB liabilities, thus lessening reliance on short term and increasing long term liabilities of the bank. Book building started on 4 November aiming to determine...