Statement re Call Option

 

TIDM81YJ 
 
RNS Number : 0284U 
Gulf International Bank B.S.C. 
17 June 2009 
 

PRESS RELEASE 
Gulf International Bank B.S.C. indicates its intention not to exercise its call 
option on its U.S.$400,000,000 Subordinated Step-Up Floating Rate Notes due 2015 
Gulf International Bank B.S.C. (the Company) announced today that its current 
intention is not to exercise the redemption option initially available on the 
interest payment date falling in September 2010 (the Call Date) in relation 
to its U.S.$400,000,000 Subordinated Step-Up Floating Rate Notes due 2015, ISIN 
XS0230799925 (the Notes) due to prevailing adverse market conditions and 
economic conditions. 
The Notes are still redeemable on any interest payment date after the Call Date. 
The Company intends to review its decision not to call the Notes from time to 
time in light of then prevailing market conditions and the financial position of 
the Company. Any notice to call would be given not more than 60 nor less than 30 
day's prior to the due date fixed for redemption. 
The Company values its relationship with the holders of the Notes as important 
stakeholders in its business and it will continue to monitor market conditions 
until the Call Date. In the meantime, the Company intends to launch a cash 
tender offer shortly and invite holders of the Notes to offer to sell for cash 
to the Company a limited amount of their Notes in a modified dutch auction, 
subject to the terms and conditions of the tender memorandum, to be issued in 
connection with such cash tender offer. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
This press release contains forward-looking statements. Forward-looking 
statements are statements that are not historical facts and include statements 
about the beliefs, expectations and assumptions underlying them. These 
statements are based on plans, estimates and projections as they are currently 
available to the management of Gulf International Bank B.S.C. Forward-looking 
statements relate only to the date they are made and Gulf International Bank 
B.S.C. is not obliged to update publicly any of these statements in light of new 
information or future events. 
By their very nature, forward-looking statements involve risks and 
uncertainties. A number of important factors could therefore cause actual 
results to differ materially from those contained in any forward-looking 
statement. Such factors include the current prevailing global market conditions. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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