Bahrain’s GFH Financial Group completes $500m sukuk issuance – The National

Bahrain’s GFH Financial Group completes $500m sukuk issuance – The National

Bahrain's GFH Financial Group completed the issuance of its $500 million (Dh1.83 billion) sukuk programme after selling the remaining amount of $200m.. The investment bank did not provide the details of the transaction in a filing to the Dubai Financial Market, where its shares trade.. "The proceeds from the sukuk issuance will be used to further strengthen GFH's balance sheet and diversify its income," it said on Tuesday.. The deal comes after a $300m Islamic bond that the company sold in January this year.. Shuaa Capital, along with other parties, priced and issued the sukuk.. In February, GFH acquired a 70 per cent stake in FinTech company Marshal - its second major investment in a technology business - through its investment banking arm, GFH Capital.. The lender's first major technology investment was its acquisition of an 85 per cent stake in discount voucher app The Entertainer in 2018.. The bank purchased a US hospitality portfolio in partnership with investment firm Arbor Lodging Partners for $250m in February.. GFH's revenue climbed to $335.7m from $286.2m reported at the end of 2018, it said at the time..