Mubasher: Burgan Bank on Wednesday issued a $500 million perpetual Tier1 capital securities with a 5.75% yield.

The Kuwait bank also bought back $230.158 million securities of the previously issued $500 million perpetual Tier1 securities, issued on September 2014, according to a bourse statement.

“These transactions were undertaken to manage the bank’s capital and long-term liquidity in accordance with regulatory requirements,” the bank added.

In June, Burgan Bank received Kuwait’s Central Bank of Kuwait (CBK) approval for the issuance of Perpetual Tier 1 (AT1) capital securities at up to $500 million.