Al Ahli Bank of Kuwait (ABK), rated A by Fitch and A2 by Moody’s (both with a stable outlook), has received a regulatory nod to market a 10-year (callable after five years) dinar-denominated subordinated Tier 2 bonds with a principal amount not exceeding 30 million dinars ($98 million).
The issuance will see an allotment of KWD 15 million as fixed rate bonds and an equal amount as floating rate bonds.
ABK Capital and Kamco Invest have been mandated as joint lead managers on the offering.
The subscription period will commence on November 27.
The Government of Kuwait owns a 11.68% stake in ABK.
The lender returned to debt capital markets in September 2024 after a near six-year hiatus, raising $300 million though an AT1 bond offering with a 6.5% coupon rate.
(Writing by Bindu Rai, editing by Brinda Darasha)