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NBK issues $750m in non-guaranteed bonds

NBK issues $750m in non-guaranteed bonds
Photo Credit: Arabianeye-Reuters
NBK
NBK
-0.41% 960.00 -4.00

Kuwait – Mubasher: The National Bank of Kuwait (NBK) has issued non-guaranteed bonds worth $750 million as part of the medium-term bonds issue programme at a maximum value of $3 billion or its equivalent in other currencies.

The bonds issue will mature in five, seven, and ten years, according to a bourse statement issued on Tuesday.

The NBK clarified that the maturity of Tier 1 will be in five years, with the bonds being listed on the Irish Stock Exchange and subject to the English Law.

The financial impact from issuing these bonds will be boosting liquidity in foreign currencies, improving regulatory ratios, and diversifying the financing resources, the NBK noted.

At the stock level, the NBK closed Tuesday’s session at 685 fils.