Kuwait International Bank: Pricing of First Unsecured Sukuk Issuance at $500 Million

Kuwait City, Sept 2 (KUNA) – Kuwait International Bank (KIB) announced today, Wednesday, the successful pricing of its first issuance of unsecured senior Sukuk worth $500 million for a five-year tenor. In a statement to the Kuwait News Agency (KUNA), the bank said this issuance is part of a Sukuk program with a total value of $1.5 billion and a fixed annual profit rate of 5.502 percent. It clarified that “the issuance attracted strong investor demand since its launch,” noting that the order book reached approximately $1.2 billion, equivalent to 2.4 times the size of the issuance, reflecting strong investor appetite for the Sukuk. (End) A.A.B / T.A.B