The National Bank of Kuwait announced that it had successfully issued bonds worth $1 billion and completed the settlement procedures for those bonds.
In a statement to the Kuwait Stock Exchange, today, Thursday, Al-Watani said that it succeeded in issuing unsecured bonds with a priority to repay one billion dollars (maturity after 6 years and redeemable after 5 years). ).
He clarified that the interest rate of the bonds is fixed at 1.625% from the date of issue until the first redemption date, maturing semi-annually, and variable interest plus a margin of 105 basis points after the first redemption date. Payable on a quarterly basis.
The NBK indicated that the issuance would enhance the bank's foreign currency liquidity position, as well as improve the related supervisory ratios, in addition to diversifying funding sources.
The bank announced last Sunday that it had succeeded in pricing unsecured bonds with a priority to repay one billion dollars, explaining that the bonds are part of the bank's program to issue global medium-sized securities. term.
The bank's profits rose 44.7% in the first half of this year; To reach 160.8 million dinars, while the bank achieved a jump in profits for the second quarter of the year by 128.8% to 76.5 million dinars.
