GIB picks banks for dollar bond
Manama, November 11, 2012
Bahrain-based Gulf International Bank has mandated banks to arrange a dollar-denominated bond, planned before the end of the month, four sources familiar with the matter said on Sunday.
GIB, majority-owned by the Saudi Arabia government, has picks itself, as well as JP Morgan Chase, National Bank of Abu Dhabi, Barclays, Standard Chartered and Societe Generale to arrange the deal, the sources said on condition of anonymity.
The bank updated a prospectus for its $4 billion bond programme in September in which it said proceeds from any potential debt issue would be used for general corporate purposes.-Reuters