Bahrain investment group GFH issues $200 million in sukuk
Bahrain-based GFH Financial Group has issued a sukuk worth $200 million, the company said in a bourse filing on Tuesday (June 9).
The transaction completes the company’s planned $500 million sale of sukuk following the first issuance of $300 million in January.
GFH said the proceeds from the sukuk will be used to strengthen its balance sheet and diversify its income.
GFH earned an operating income of $335.7 million and profit of $80.1 million in 2019, according to its February presentation to investors. Its total assets grew by 19% to $5.9 billion.
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