Middle East Economic Survey

VOL. XLVII

No 46

15-November-2004

CAPITAL MARKETS

GIC $500Mn Bond Issue Oversubscribed

Gulf Investment Corps (GIC) launch of a $500mn euro floating rate note, which is part of a $1bn total euro medium-term note (EMT) program (MEES, 8 November) was oversubscribed with orders totaling $850mn, MEES understands. The bond, which was joint lead managed by Bank of America and HSBC, saw pricing of 55 bps over seven month Libor. The bond, which was launched on 11 November,...