Saudi-backed GIB said the five-year issue was placed with private investors. Calyon Saudi Fransi, Samba Capital, Riyad Capital and GIB's unit GIB Financial Services were book runners and lead managers on the issue.
GIB said it had initially planned to raise 3 billion Saudi riyals, but increased the amount after attracting an order book of SR6.3 billion.
In November, GIB raised SR2 billion via a three-year bond priced at 127.5 basis points over the Saudi Interbank Offer Rate (SIBOR).
It had postponed another issue in international markets, denominated in dollars, after Dubai World rattled global markets in November last year with an announcement that it would ask for a standstill on some of its debt just when GIB finalized the pricing of the bond.
As a result, Gulf Arab fixed-income markets remained largely shut for months, but are now slowly coming back to action with a series of issues led mainly by Saudi banks.
Banque Saudi Fransi raised $650 million in a bond sale in March.
