Gulf International Bank appoints banks in preparation for issuing 5-year bonds

Gulf International Bank logo – GiB

Reuters reported that the Gulf International Bank, affiliated with the Public Investment Fund, appointed banks to organize meetings with investors on Tuesday in preparation for issuing standard-sized, unsecured, dollar-denominated bonds with a priority repayment period of 5 years, according to a document of one of the banks charged with organizing it.

The agency explained that Gulf International Bank appointed Standard Chartered as global coordinator, while it appointed Citibank, Emirates NBD Capital, GIB Capital and JPMorgan as joint lead managers and joint bookrunners for the offering.

She indicated that the bank intends to sell bonds within its current program of medium-term euro bonds worth $2.5 billion.