Bahrain's GFH to raise $300 million with sukuk

DUBAI (Reuters) – Bahrain-based GFH Financial Group is set to raise $300 million on Tuesday with five-year sukuk, or Islamic bonds, a document showed.

The investment group started marketing the notes on Tuesday with an initial yield guidance of around 7%.

The sale received over $650 million in demand, the document showed.

The issuer is rated B by S&P and Fitch.

Societe Generale (PA:) and Standard Chartered (LON:) have been hired to coordinate the deal and they are joint lead managers together with Emirates NBD Capital, KAMCO Investment, Mashreqbank, SHUAA Capital and Warba Bank.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.