Gulf General Delays $300 Million Bond Sale, National Reports

Gulf General Investment Co. plans to delay a $300 million-bond sale for as many as three months because of high borrowing costs, The National reported, citing finance manager Ashish Oommen.

The Dubai-based investment company hired Deutsche Bank AG, HSBC Holdings Plc and Standard Chartered Bank Plc to manage the dollar-bond sale, two people familiar with the transaction said on Oct. 31.

To contact the reporter on this story: Camilla Hall in Dubai at +971-4-364-1052 or chall24@bloomberg.net.

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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