Manama: Bahrain-based Gulf International Bank (GIB) said it had sold two billion Saudi riyals ($533 million) of five-year floating rate notes, the first issue by a financial institution in the domestic Saudi riyal bond market since September 2015.
The senior unsecured notes were oversubscribed and priced at a spread of 140 basis points over the three-month Saudi interbank offered rate, the bank said yesterday .