Islamic Finance

Kuwait International Bank to issue Tier 2 sukuk

Kuwait International Bank plans to issue a Tier 2 sukuk al wakalah of up to $300 million.

The sale will take place through a special purpose company, the bank said in a filing on Boursa Kuwait on Wednesday (Nov 18).

KIB has appointed Citigroup Global Markets Limited and Standard Chartered Bank as global coordinators.

Joint lead managers and book runners are Boubyan Bank, Citigroup Global Markets Limited, Emirates NBD Bank, First Abu Dhabi Bank, KFH Capital Investment Company, Kamco Investment Company, and Standard Chartered Bank.

The sukuk will be listed on the London Stock Exchange.

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