Mubasher: Bahrain Bourse (BHB) signed on Tuesday two agreements for listing capital securities of Bank of Bahrain and Kuwait (BBK), according to a recent statement.

The deals are for listing BBK’s perpetual tier 1 convertible capital securities, and for assigning Bahrain Bourse as a registrar for the bondholders of the securities.

This move covers the listing of a total number of 86.09 million securities, with a nominal value per capital security of BHD 1.000.

“The capital securities offer an attractive annual interest rate of 8.25% for the first five years, after which the rate will be reset to the equivalent of 3-month Bahraini Dinar Interbank Offered Rate (BHIBOR) plus 5.86%, and will be paid on a semi-annual basis,” the statement added.