Tuesday , May 17 2022

Gulf International signs a $ 500 million facility agreement with regional and international banks


Gulf International Bank (GIB), Abu Dhabi First Bank, HSBC Middle East Limited, Natixis Bank, Dubai International Finance Center, Riyadh Bank, Mizuho Limited, signed regional and international banks with a $ 500 million loan for three years. Samba Financial Group, Indian State Bank in Bahrain, Citibank N, Bahrain Branch and Wiry Bank, Bahrain Branch.

Abu Dhabi First Bank and HSBC Bank Middle East Limited also served as Chief Financial Officers and Lead Managers. Abu Dhabi First Bank was appointed as a financial agent. Financing aims at refining period-based facilities and general financing objectives.

"We are pleased to announce the successful completion of this agreement with the support of nine regional and international financial institutions," said Abdulaziz Al Helaisi, General Manager of the Gulf International Bank Group. Said.

Milyon Due to the high demand for structured credit facilities, the facility surpassed the target amount and the amount of funding was raised from $ 250 million to $ 500 million to meet this demand by reflecting the bank's confidence in the bank. “

GIB continues to make progress in implementing its expansion strategy and presence in key regional markets through the development of its business and customer base. In March of this year, the Bank initiated the final stages of transforming its digital banking business for individuals in Bahrain and its existing branches in Saudi Arabia into a local Saudi bank as part of its search for growth in the Saudi market. Vision of the Kingdom 2030.

Source link