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Kuwait C. bank issues KWD 290m bonds, tawarruq

Kuwait C. bank issues KWD 290m bonds, tawarruq
The three-month bonds have a return rate of 2.25%

Mubasher: The Central Bank of Kuwait (CBK) has issued KWD 290 million ($943.39 million) worth of bonds and related tawarruq, Kuwait News Agency (KUNA) reported on Monday.  

The issue carries a maturity period of three months with a 2.25% return rate.

Earlier this day, the CBK slashed its discount rate by 100 basis points (bps) to 1.5% in an attempt to offset the negative impact of the coronavirus (COVID-19) on the local market and national economy.