GHC seeks to raise $190m in bond issue.
The floating rate trust certificates of the five-year international sukuk offering will be at a profit rate of 275 basis points over the three-month London Interbank Offered Rate (Libor).
It was arranged by Merrill Lynch International (MLI) and was jointly lead-managed by Al Rajhi Banking and Investment Corporation of Saudi Arabia.
MLI were also the mandated book-runners for this issue, which successfully closed on April 18.
"The successful floating of the sukuk and now its subsequent listing on the DIFX, as promised, is a clear vindication of this particular initiatives value proposition which includes a very competitive profit of 275 basis points over the three-month Libor," said GHC vice-chairman and chief executive officer Ahmed Al Ameer.
This five-year international sukuk offering is secured by a charge over GHC's mixed-use development, Villamar@Harbour, in the landmark Bahrain Financial Harbour.
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