Gulf International Bank closes Sukuk-al-Murabaha private placement

Gulf International Bank (GIB) communicates the successful pricing and closing of a three-year $300 million Sukuk-al-Murabaha private placement with a profit rate of 6-month USD LIBOR + 130 bps on a semi-annual basis.
The Sukuk will mature on 7 December 2014. It was successfully placed with a number of institutional investors, with J.P. Morgan acting as Sole Manager of the placement.