Gulf International Bank closes debut $500mln financing facility
The three-year Sharia-compliant facility was well oversubscribed, driven by strong demand from a broad mix of leading regional and international banks.
The successful completion of the facility underscores GIB's sound financial position in the market.
The strong interest garnered by the facility has enabled GIB to further diversify its funding base and facilitate the Bank's continued business growth across its core markets and key business lines.
GIB chief executive Sara Abdulhadi said, 'We are proud to have successfully closed GIB's inaugural syndicated murabaha facility, marking a key milestone in the ongoing diversification of our funding strategy. The strong response and oversubscription from such a diverse group of regional and international banks reflects tremendous market confidence in GIB's position as a leading pan-GCC universal bank.'
SMBC Group acted as the initial mandated lead arranger, bookrunner and co-ordinator for the facility. Emirates NBD Capital and First Abu Dhabi Bank were the mandated lead arrangers and bookrunners.
Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
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