VOL. XLV

No 25

24-June-2002

CAPITAL MARKETS

GIB $325Mn Bond Rated BBB+ By Fitch, Standard & Poors

Gulf InternationalBanks (GIB) new $352mn floating rate bond has received a BBB+ rating from internationalrating agencies Fitch and Standard & Poors. The note has a coupon of 45bps over 3-month Libor and a tenor of 5 years and will be listed on theLuxembourg Stock Exchange. The note, which was increased from the originaltarget of $300mn, forms part of the banks standard senior term financing...