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KIB receives proceeds of $300 million sukuk issue

KIB receives proceeds of $300 million sukuk issue
The sukuk offering was listed on the Irish Stock Exchange
KIB
KIB
-1.45% 272.00 -4.00

Mubasher: Kuwait International Bank (KIB) on Tuesday announced that it received the proceeds of $300 million AT1 sukuk.

The sukuk offering was listed on the Irish Stock Exchange (Euronext Dublin), according to a bourse statement.

In May, the Kuwait-listed lender announced the issuance of the $300 million sukuk under Tier 1 capital as per Basel III and the Central Bank of Kuwait’s (CBK) guidelines at an annual profit rate of 5.625%.