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GIB predicted to sell $500m in five-year bonds

GIB predicted to sell $500m in five-year bonds
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Riyadh – Mubasher: Gulf International Bank (GIB) is predicted to sell $500 million in five-year bonds and has received around $1.2 billion in orders for the debt sale, Reuters reported on Wednesday.

The lender, which is 97.2% indirectly owned by Saudi Arabia's Public Investment Fund (PIF), tightened price guidance to between 210 and 215 basis points (bps) over mid-swaps for the bonds.

GIB had given initial price guidance of around 230 bps over mid-swaps. The deal is likely to close later this day.