KIB Invest Appointed Co-Lead Manager for $2.75 Billion Sukuk Issuance
Kuwait International Bank (KIB), represented by its Islamic investment arm, KIB Invest, participated as Joint Lead Manager in the pricing of the third issuance of sovereign-guaranteed international Sukuk by the Saudi Arabian Mortgage Company, with a total value of $2.75 billion.
The issuance was structured under Musharaka and Murabaha formats, priced on July 7, 2026, with settlement scheduled for July 14, 2026. The Sukuk were divided into two tranches: the first valued at $1.25 billion with a maturity of 5.5 years (maturing on January 14, 2032), and the second valued at $1.5 billion with a maturity of 10 years (maturing on July 14, 2036).
Commenting on the participation, Mohammed Al-Duwailah, General Manager of Treasury at KIB, stated, “The success of this large-scale issuance amid current regional conditions clearly demonstrates the resilience and depth of financial markets in the region. It also reflects the global confidence in the Saudi Arabian Mortgage Company and the attractiveness of debt and Islamic finance instruments to investors. At KIB, we are proud to contribute to this issuance and support the redirection of capital toward high-quality, sustainable investment opportunities that meet investors’ aspirations and help achieve our partners’ objectives.”
For his part, Jamal Al-Barrak, Chief Executive Officer of KIB Invest, said, “KIB Invest’s selection as Joint Lead Manager for this prominent regional transaction reflects the company’s standing and the advisory and execution expertise it has accumulated in capital markets. It also underscores the banking consortium’s ability to attract a broad and diverse base of institutional and international investors. At KIB Invest, we are committed to continuing the development of Sharia-compliant investment solutions and strengthening our position as a trusted strategic partner in regional and global capital markets.”
Al-Barrak added, “Despite volatile geopolitical conditions and uncertainty, the Saudi Arabian Mortgage Company chose the right timing for the issuance amid improving market conditions, focusing on execution quality and achieving competitive pricing aligned with global sovereign and quasi-sovereign issuances, which helped attract a wide investor base. KIB’s active role during the book-building process also contributed to enhancing the positive momentum of the issuance and supporting the success of the offering.”
KIB’s participation in the issuance came alongside a consortium of leading regional and global financial institutions, including DBS Bank Ltd., HSBC Bank plc., the Islamic Corporation for the Development of the Private Sector, J.P. Morgan, Bitex Capital, Mizuho, Al Salam Bank, and Standard Chartered, further confirming the group’s prominent position in Islamic and international capital markets.
