(MENAFN- Khaleej Times) Gulf Investment Corporation, or GIC, successfully accessed the Swiss franc capital markets, pricing its inaugural 300 million Swiss franc ($325 million) bond issue via three-year fixed-rate notes in Switzerland.
BNP Paribas (Suisse) and the Royal Bank of Scotland acted as joint lead managers, with the notes being issued under GIC's $2.5 billion EMTN Programme, via GIC Funding Limited, a Cayman Island-domiciled entity fully guaranteed by GIC.
GIC is the first Middle Eastern issuer to access the Swiss franc market in more than 20 months, and in doing so achieved some historic milestones. This transaction marks the largest Swiss franc public offering ever printed by any Middle Eastern issuer, and has achieved a record all-time low coupon within the Swiss franc market for all Middle Eastern issuers.
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