First Gulf Bank

By Dariush Hessami
15 Nov 2013

Rating: A2/A+

Amount: $500m

Maturity: 14 Jan 2019

Issue/fixed re-offer price: 99.274 

Coupon: 3.25%

Spread at re-offer: 180bp over mid-swaps

Launched: Tuesday November 5

Payment date: November 14

Joint books: Bank of America Merrill Lynch, Citi, Deutsche Bank, First Gulf Bank, HSBC

Bookrunners’ comment: 

It was three times oversubscribed and at a very tight price. Poor market conditions ...

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