Gulf International Bank (GIB) has successfully closed its debut $500 million syndicated Murabaha financing facility, marking the Bank’s first Islamic syndicated transaction in the international market.
The three-year Shariah-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 Gulf International Bank to further diversify its funding base and facilitate the Bank’s continued business growth across its core markets and key business lines.
Sara Abdulhadi, Chief Executive Officer of Gulf International Bank, said that, “We are proud to have successfully closed Gulf International Bank’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 Coordinator for the facility. Emirates NBD Capital Limited and First Abu Dhabi Bank were the Mandated Lead Arrangers and Bookrunners.
Gulf International Bank (GIB)
Gulf International Bank is a pan-GCC universal bank established in 1975 and regulated by the Central Bank of Bahrain. Gulf International Bank’s services are delivered across the GCC and international markets through its subsidiaries: GIB Saudi Arabia and GIB (UK) Ltd.
Additionally, the Bank has branches in the UAE, Oman, London, and the USA. Gulf International Bank is owned by the governments of the Gulf Cooperation Council countries, with Saudi Arabia’s Public Investment Fund being the principal shareholder.
