Kuwait – Mubasher: The Central Bank of Kuwait issued bonds worth KWD 240 million ($785.6 million) on Tuesday to regulate liquidity, Al Nabaa newspaper reported.

The new bonds, due 3 October, stand at a yield of 1.625%, and were covered four times at 357%. Offers amounted to KWD 857.5 million, according to the newspaper.

The finance minister of Kuwait announced that his country seeks to increase total bonds to KWD 20 billion instead of KWD 10 billion, and to increase the maturity date to 30 years, besides issuing sukuk as debt instruments.

The Central Bank of Kuwait has offered 11 issues in 2017 totalling KWD 2.3 billion, with an average of KWD 209 million per issue, an average yield of 1.357%, and an average coverage of 404%.

The finance minister had announced on 28 March that the government has introduced amendments to the public debt law, allowing the issue of Islamic sukuk debts.