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Gulf International Bank – Saudi Arabia (GIB KSA), rated A2 (stable) by Moody’s and A- (stable) by Fitch, has mandated banks for the issuance of its debut dollar-denominated benchmark Reg S only perpetual non-call 5.5-year AT1 bond.
Citi and GIB Capital have been mandated as joint global coordinators, along with Abu Dhabi Commercial Bank, BofA Securities, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq, SMBC and Standard Chartered Bank as joint lead managers and joint bookrunners.
The Global Investor Call and a series of fixed income investor calls and meetings in London commence on Monday November 3rd.
The inaugural benchmark fixed-rate resettable AT1 capital issuance under GIB KSA’s $1.5 billion Additional Tier 1 Capital Note Programme.
GIB KSA is owned by Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF).
(Writing by Bindu Rai, editing by Seban Scaria)
