Mubasher: Bahraini lender, Gulf International Bank (GIB), which is indirectly owned by the Saudi government through the Public Investment Fund (PIF) has said that it will camcel issue of dollar-denominated bonds due to market conditions.

GIB decided to halt this issue despite strong demand by investors, according to Reuters.

Previously, the bank appointed GIB Capital, Citigroup, First Abu Dhabi Bank (FAB), HSBC, JPMorgan, Mizuho, and Natixis to arrange a potential five-year bond sale.