Gulf International Bank (GIB) has announced the successful completion of its senior unsecured $ 500 million 5-year debut issue under its $ 4 billion Euro Medium Term Note Program. The notes were issued at a spread of $ 5-year mid-swap plus 165 basis points with a coupon rate of 2.375 percent.
This highly successful Reg S transaction achieved one of the lowest coupons for a $ 5-year senior unsecured transaction by a bank in the MENA region, clearly reflecting investors’ high confidence in GIB’s financial strength and credit story………………………………………..Full Article: Source