Kuwait-Mubasher: Alargan International Real Estate will repurchase bonds accounting for 101% of the bond’s nominal value which stands at KWD 5,000.

The buyback includes 720 bonds at a value of KWD 3.64 million, according to a statement issued on Wednesday.

These fixed-rate bonds have a coupon rate of 6.25% annually.

Alargan’s repurchase process will lead to a reduction of the existing bonds to 3,522 worth KWD 17.61 million, due on 11 April, 2017.

Furthermore, the buyback will reduce finance expanses for FY16 by about KWD 76,400.