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First Gulf Bank plans $205mln bonds

Posted on 13 January 2011

From Arabianbusiness.com: First Gulf Bank plans to raise 200 million Swiss francs ($205m) in a sale of five-year bonds that may be priced to yield about 164 basis points over the benchmark mid-swap rate, according to three people familiar with the deal.
Abu Dhabi’s third-largest lender in November delayed a planned bond sale because rates weren’t favorable. Borrowers from the Gulf Cooperation Council, including the UAE and Saudi Arabia, sold $32.6bn of bonds last year, compared with $42.8bn in 2009, according to data compiled by Bloomberg……………………………………….Full Article: Source

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