Al Ahli Bank of Kuwait received a confidence boost by regulatory bodies yesterday as ABK got approval to market a 10-year dinar-denominated subordinated Tier 2 bonds with a principal amount not exceeding 30 million dinars ($98million).
The issuance will see an allotment of KWD 15 million as fixed rate bonds and an equal amount as floating rate bonds.
State Equity in Investors of Al Ahli Bank
ABK Capital and Kamco Invest are mandated as joint lead managers on the offering.
The Government of Kuwait owns a 11.68% stake in ABK.
Confidence Boost for Al Ahli Bank
The green light follows a return to debt capital markets as ABK Capital and Kamco raised $300 million through an AT1 bond offering in September last year.
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