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Kuwait C.bank issues KWD 240m bonds; oversubscribed 12 times

Kuwait C.bank issues KWD 240m bonds; oversubscribed 12 times
The issuance will be due on 21 April 2020

Mubasher: The Central Bank of Kuwait (CBK) on Tuesday issued bonds and related tawarruq at a value of KWD 240 million ($792.40 million), with a 2.750% rate of return.  

The issuance was oversubscribed by 12.125 times and registered an overall subscription demand worth KWD 2.91 billion, according to data published by the CBK.

The bonds carry a tenor of three months and will be due on 21 April 2020. 

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