Middle East Economic Survey
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...