"ASB Capital".. Joint Chief Manager and Registrar Manager for "Kuwait International" Bank's $500 Million Sukuk Issuance

ASB Capital, an asset and wealth management firm with $10.2 billion in assets under management, announced its reappointment as joint lead manager and subscription bookrunner for Kuwait International Bank’s new $500 million issuance of five-year unsecured senior sukuk.

The offering attracted investor subscription orders exceeding $1 billion, more than double the size of the issuance.

ASB Capital participated in the deal as part of an alliance comprising leading regional and international financial institutions, including Citibank, Standard Chartered Bank, QNB Capital, Emirates NBD Capital, KFH Capital, Boubyan Bank, KIB Invest, Sharjah Islamic Bank, Warba Bank, ABC Bank, and The Arab Bank.

This appointment marks the second time ASB Capital has been engaged by Kuwait International Bank in less than twelve months, following its participation in the bank’s $300 million Tier 2 sukuk issuance in October 2025.

The appointment for unsecured senior sukuk follows four consecutive mandates for additional Tier 1 sukuk issuances in Gulf Cooperation Council (GCC) countries, further expanding ASB Capital’s proven capabilities to include unsecured senior instruments, Tier 2 instruments, and additional Tier 1 instruments.

This repeated mandate strengthens ASB Capital’s presence in Kuwait, where it has participated in capital market transactions for both Kuwait Finance House and Kuwait International Bank.

It also reflects the continued growth of the Group’s regional investment banking platform, supported by the balance sheet and treasury capabilities of Al Salam Bank.

Commenting on the issuance, Hussein Abdulhaq, Chief Treasury Officer of Al Salam Bank, said, “The continued confidence shown by leading regional issuers is a significant affirmation of the strength of the Group’s investment banking platform. The second mandate from Kuwait International Bank for ASB Capital demonstrates the expanding scope of the platform we are building and its ability to support issuers in achieving their capital and financing objectives.”

Hisham Johri, Chief Executive Officer of ASB Capital, added, “We are pleased to support Kuwait International Bank again following our participation in the bank’s Tier 2 sukuk issuance in 2025. The strong investor demand for this transaction reflects the sustained appetite for established financial institutions in the GCC. This repeated mandate also underscores our focus on disciplined execution, building long-term relationships with issuers, and connecting regional institutions with a broad base of international investors.”

This latest mandate further expands ASB Capital’s growing track record in GCC capital market transactions, including issuances for Kuwait Finance House, Kuwait International Bank, Petrofin Energy, Solidarite Bahrain, Al Salam Bank, Alinma Bank, Dubai Islamic Bank, Al Jazira Bank, Ajman Bank, and the Saudi Real Estate Refinancing Company.