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Bahrain-based investment bank GFH Financial Group is to ask shareholders to approve a new $500 million sukuk programme.
The sukuk will be issued through a special purpose vehicle (SPV) in one or more tranches.
The entity said in a stock market disclosure that it will also ask holders of its existing sukuk, issued in two tranches in January and June 2020, to agree to modified terms, including early cash redemption.
Both the new sukuk and modified terms of the existing sukuk will be considered at the bank’s ordinary general meeting in October.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
