Warba Bank issues $250m Tier 1 sukuk

Warba Bank issues $250m Tier 1 sukuk
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WARBABANK WARBABANK -2.00% 254.00 -5.00

Mubasher: Warba Bank has announced the sukuk issue of $250 million Tier 1 Mudaraba capital certificates, of which the promoting campaign was set in the international market, according to a bourse statement issued on Thursday.

With a coupon rate of 6.5%, the sukuk will be listed on both the Irish stock market and Nasdaq Dubai.

The first call date set for regaining the perpetual sukuk will be in five years, in 2022.

The statement clarified that the lead arrangers for this issue are Capital Investment, Standard Chartered Bank, KAMCO Investment, Noor bank, Emirates NBD, and Bank ABC.


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Source: Mubasher