Mubasher: The National Bank of Kuwait (NBK) has obtained the Central Bank of Kuwait’s (CBK) approval to exercise a call option to redeem KWD 125 million bonds at the interest payment date falling on 5 years from the date of issuance of the bonds being 18 November 2020.

According to the prospectus dated 18 November 2015, the lender issued KWD 125 million subordinated bonds due on 18 November 2025 which included KWD 62.5 million fixed rate bonds and KWD 62,500 million floating rate bonds, according to a statement on Sunday.

On 5 October, the CBK issued its approval for NBK to exercise its call Option.

NBK will redeem the remaining balance of the bonds in whole at their principal amount together with the accrued interest.