Gulf International Bank intends to sell five-year bonds worth $ 500 million, and the bank has received requests to sell debt of about $ 1.2 billion.
According to Reuters, a document issued by one of the banks arranging the operation stated that the bank indirectly owned 97.2 percent of the Saudi Public Investment Fund, reduced the indicative price of the bonds when Between 210 and 215 basis points above average fixed and variable interest swap rates.
The bank had given a benchmark rate of about 230 basis points above average fixed and variable interest swap rates.
The operation is expected to close later on Wednesday.
(Amazon fun knowledge)
