News Column

GFH in deal with bourse

August 12, 2014

MANAMA: Bahrain-based Gulf Finance House (GFH) has signed a memorandum of understanding with Nasdaq Dubai to list a new sukuk of $200 million.

In a filing to the Bahrain Bourse, GFH said it plans to use the proceeds from the sukuk to repay current outstanding sukuk of $84m and undertake business acquisitions for financial consolidation and project development in Bahrain and Dubai.

The sukuk issuance will take place in the coming months at a time to be announced, subject to regulatory approvals.

In April, GFH obtained shareholders' approval for sukuk issuance or new debt facilities of up to $500m.

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Source: Gulf Daily News (Bahrain)

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