June 10, 2021 banking

Kuwait's Ahli United Bank sells $600mln Islamic bond


DUBAI] - Kuwait's Ahli United Bank has sold $600 million in Additional Tier 1 Islamic bonds at 3.875%, a document showed on Wednesday.

Pricing on the bond tightened from an initial price guidance of around 4.375% after the debt sale attracted more than $1.7 billion in orders, the document from one of banks on the deal showed.

Additional Tier 1 (AT1) bonds are designed to be perpetual in nature, but issuers can redeem or 'call' them after a specified period. Ahli United Bank's AT1 sukuk will be non-callable for 5-1/2 years.

Kuwait's Ahli United, nearly three-quarters owned by Bahrain's Ahli United Bank, hired Citi, HSBC, Standard Chartered, Abu Dhabi Islamic Bank, Kamco Invest, KFH Capital and Kuwait International Bank to arrange the deal.

zawya



Top News



banking

Gulf Bank launches MOUJ Prepaid card
June 17, 2021
KIB facility to Zain Iraq unit
June 15, 2021
Key developments in Kuwait BoP Q4 2020
June 15, 2021