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Markaz completes 5-year KWD25m bonds issue

Markaz completes 5-year KWD25m bonds issue
Signing the agreement between Markaz and Gulf Bank - (Photo Credit: Press Release)
GBK
GBK
0.00% 294.00 0.00
MARKAZ
MARKAZ
-0.75% 133.00 -1.00

Kuwait - Mubasher: Kuwait Financial Centre (Markaz) and Gulf Bank announced on Monday the successful completion of the 5-year bonds issue with a nominal value of KWD 25 Million, which was oversubscribed, according to a joint statement.

According to the statement, Markaz, the issue manager, appointed Gulf Bank as the financial advisor and sales agent.

The bonds were issued in two tranches, one with a fixed interest rate of 5% annually payable quarterly, while the other tranche offers a floating interest rate of 2.25% above the central bank of Kuwait discount rate, annually and payable quarterly.