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Boubyan Bank issues $750m Sukuk

Boubyan Bank issues $750m Sukuk
Sukuk receiving bids worth a total of $4.59 billion
BOUBYAN
BOUBYAN
1.59% 511.00 8.00

Mubasher: Boubyan Bank announced the issuance of US dollar-denominated Sukuk worth $750 million. The issuance was oversubscribed by 6.12 times with orders reaching $4.59 billion.

The high demand reflects investors’ confidence in Boubyan Bank’s performance and business, the bank said in a bourse statement on Wednesday.

During the fiscal year ended 31 December 2019, the bank reported higher annual net profits by 12% at KWD 62.65 million ($206.98 million) when compared to KWD 56.11 million ($185.37 million).