Kuwait International Bank announced its success in issuing sukuk within the second tranche of the supporting capital of $ 300 million (refundable after 5 years).
The bank said in a statement to the Kuwaiti Stock Exchange, today, Tuesday, that it had also succeeded in completing the procedures for settling these sukuk, and they were listed on the London Stock Exchange.
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The bank clarified that the credit rating agency Fitch has affixed the final rating of the sukuk within the second tier of the supporting capital at (A-).
and at the beginning of last week, the bank announced that it had offered and priced supporting instruments within the second tier of capital with a value not exceeding $ 300 million.
and Kuwait International indicated that the total participation in the sukuk reached approximately $ 2.7 billion, which is 9 times the size of the issued sukuk.
According to the statement, the issue witnessed a turnout from various countries of the world, led by investors in the Middle East and North Africa by 48%, followed by Asia by 25%, then Europe by 24% %, And finally the United States of America (non-resident accounts) at a rate of 3%.
KIB indicated that these sukuk will strengthen the bank's long-term financing base and increase capital ratios in accordance with Basel 3 standards of approved capital adequacy ratios By the Central Bank of Kuwait.
