Gulf International Bank B.S.C Closes Debut US$500 Million Islamic Syndicated Financing Facility

•    Landmark three-year facility oversubscribed by a diverse mix of leading regional and international banks.

•    Strong uptake of the facility highlights GIB’s sound credit profile while further strengthening the Bank’s financial position and diversifying its funding sources.

Gulf International Bank B.S.C. (GIB) today announced that it has successfully closed its debut US$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 GIB 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 GIB B.S.C., said, “We are proud to have successfully closed GIB’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 PJSC were the Mandated Lead Arrangers and Bookrunners.