Gulf International Bank concludes the first syndicated loan linked to sustainable development | Salaam Gateway


Posted on October 11, 2021 via bizbahrain – Gulf International Bank BSC (GIB) announced that it has successfully closed a US $ 625 million Sustainability Syndicated Loan (SLL), making GIB the first Bahrain-based bank and the first Saudi-majority bank to close such a ease.

The transaction was well received in international markets and largely oversubscribed with commitments exceeding the original facility amount of US $ 500 million by more than twice, reaching US $ 1.1 billion. In view of the high interest rate, GIB decided to increase the amount of the facility to $ 625 million.

A diverse group of more than 20 global investors from the United States, Europe, the Middle East and Asia participated in the landmark transaction that incorporates[environmentalsocialandgovernance(ESG)measuresrelatedtothereductionofcarbonemissionstothediversityofgendersandtoreportsonthesustainabilityoftheSLSreflectsthemoregovernment-sponsoredenvironmentalandsocialstockmarketfocusontheSLLgovernment(ESG)metricsrelatedtoreductionsincarbonemissionsgenderdiversityandsustainabilityreportingTheSLLreflectsGIB’sfocusonmobilisingcapitalinsupportofamoresustainableeconomiclandscapeforitsclientsandstakeholders[environnementalessocialesetdegouvernance(ESG)liéesàlaréductiondesémissionsdecarboneàladiversitédesgenresetauxrapportssurladurabilitéLaSLLreflètel’accentmisparGIBsurlamobilisationdecapitauxàl’appuid’unpaysageéconomiqueplusdurablepoursesclientsetpartiesprenantes[EnvironmentalSocialandGovernance(ESG)metricsrelatedtoreductionsincarbonemissionsgenderdiversityandsustainabilityreportingTheSLLreflectsGIB’sfocusonmobilisingcapitalinsupportofamoresustainableeconomiclandscapeforitsclientsandstakeholders

Citibank, First Abu Dhabi Bank, HSBC Bank Middle East Limited, Sumitomo Mitsui Banking Corporation and Societe Generale acted as lead managers and original bookkeepers mandated in connection with the transaction. HSBC acted as the sole sustainability coordinator.

GIB Group CEO Abdulaziz Al-Helaissi said: “We are delighted to close this historic facility and are proud of the opportunity to highlight GIB’s long-term strategy and commitment to sustainable finance and investing. . As a pioneering bank, it is important for us to be at the forefront with new instruments that allow us and our clients to transact in a more sustainable way.

Jamal Al Kishi, CEO of GIB BSC, added: “The success of this syndicated loan backed by leading international banks is a testament to the strong support and interest of global financial institutions for GIB and our position as the l one of the leading banking institutions in the Middle East. East. In addition, it also shows the growing commitment of investors and borrowers to make a greater social and environmental contribution.

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