Gulf Investment Corporation (GIC), a financial institution owned by the six GCC nations, is aiming to price a benchmark-sized bond with a five-year tenor before the end of this week, lead arrangers said yesterday.

The firm released initial price guidance in the area of mid-to-high 200s basis points over midswaps for the issue, a document from the leads said. Benchmark size is understood to mean at least $500 million.

The dollar-denominated bond is likely to price this week, the document added, while a source said pricing would probably come today. GIC concluded investor meetings in London yesterday. BNP Paribas, Citigroup, National Bank of Abu Dhabi and Standard Chartered have arranged roadshows.-Reuters