GIB issues up to $533 mln bonds, eyes more issues

* GIB raises 1.5-2 bln riyals in 3-yr private bond issue

* GIB plans further issues, exec says

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MANAMA, Nov 9 (Reuters) - Bahrain-based Gulf International Bank (GIB) has raised 1.5 to 2 billion Saudi riyals in

($400-$533.3 million) a three-year private bond issue priced at 127.5 basis points over the Saudi interbank offered rate (Sibor) and plans further issues, an executive said.

Antoine Dijkstra, GIB's chief investment and treasury officer told Reuters late on Sunday the issue has attracted an order book of just over 5 billion riyals, with the final amount to be decided on Monday depending on the exact allocation of the issue to investors.

He said the bond was signed up mostly by banks, government institutions and corporates. The final pricing came in below the initial price guidance of 130 to 140 basis points over Sibor.

GIB, in which the Saudi Arabian Monetary Agency (SAMA) and the Public Investment Fund of Saudi Arabia own a combined 97.226 percent stake, is one of the first banks to tap the Gulf Arab bond markets this year after National Bank of Abu Dhabi NBAD.AD recently issued a $850 million bond.