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Bahrain’s GFH Financial Group has mandated joint lead managers and book runners for its $500 million senior sukuk, which is expected to be issued on London Stock Exchange Group’s International Securities Market (ISM) next month.
Documents showed Al Rajhi Capital, Abu Dhabi Islamic Bank, Bank ABC, Emirates NBD Capital, JP Morgan, Kamco Invest, Sharjah Islamic Bank, Standard Chartered Bank and Warba Bank have all been appointed as joint leader managers and book runners.
The documents showed the new sukuk, which was announced last month will be a fixed-rate, five-year Islamic bond, expected to be rated B- by S&P and Fitch.
The Islamic investment bank also announced a tender offer and consent solicitation exercise for its outstanding bond, GFH Sukuk Ltd’s 7.5% senior unsecured trust certificates, which mature in 2025.
GFH plans to refinance through early redemption rights and issuance of a new bond on or around November 6.
(Reporting by Imogen Lillywhite; editing by Seban Scaria)
