Islamic Finance

Kuwait’s Boubyan Bank gets $4.59 bln of orders as it issues $750 mln sukuk

Boubyan Bank on Wednesday (Feb 12) issued a sukuk of $750 million, the company said in a statement filed with Boursa Kuwait.

The 5-year wakalah/murabahah sukuk was oversubscribed by 6.12 times and attracted demand of $4.59 billion, said the bank.

The senior unsecured sukuk sold for a coupon rate of 2.593% and will be listed on Euronext Dublin.

HSBC and Standard Chartered were global coordinators. Joint lead managers were Bank ABC, Boubyan Capital, First Abu Dhabi Bank, HSBC, Islamic Corporation for the Development of the Private Sector, KFH Capital, Kuwait International Bank, Standard Chartered, and Warba Bank.

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