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Kuwait’s C. bank sells KWD 240m bonds; oversubscribed 11 times

Kuwait’s C. bank sells KWD 240m bonds; oversubscribed 11 times
The issue was oversubscribed 11.19 times

Mubasher: The Central Bank of Kuwait (CBK) has issued bonds and related tawarruq worth KWD 240 million ($793.3 million), with a 3% rate of return.

The issue was oversubscribed 11.19 times, while the total demand volume recorded KWD 2.69 billion, according to the data released by the CBK on Tuesday.  

The bonds will carry a maturity period of three months and will be due on 21 January 2020.

It is worth noting that the CBK has issued similar bonds on Tuesday, 15 October.

Bonds and related tawarruq are local bonds offered by the CBK to the banks working in the Kuwaiti banking sector to regulate the market’s liquidity.