KUWAIT CITY, 29 November 2004 — Gulf Investment Corporation (GIC) announced yesterday it has launched a $500-million bond issue with the aim of diversifying its asset base and improving its financing capabilities. The issue, the largest by a Gulf financial establishment, was launched under the Euro Medium Term Note (EMTN) program with maturity after five years and interest of 0.55 percent over the Libor benchmark rate, said GIC spokesman Qais Al-Shatti. The EMTN program’s total value is $1 billion but only half of it has been launched so far.