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Kuwait C.bank issues KWD 160m bonds

Kuwait C.bank issues KWD 160m bonds
The issue was oversubscribed by 16.3 times

Mubasher: The Central Bank of Kuwait (CBK) has issued bonds and related tawarruq worth KWD 160 million ($527.4 million), with a 3.125% yield.

The issue, which was oversubscribed by 16.3 times at a total of KWD 2.6 billion, has a six-month maturity period that ends on 12 November, according to the CBK’s statement.

The CBK’s latest bonds issue was on 7 May, at a total value of KWD 240 million.

It is noteworthy that bonds and related tawarruq are offered by the CBK to regulate liquidity and withdraw surplus in the local market.