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Kuwait’s Warba Bank has mandated banks for a Reg S 5.5 year $250 million AT1 capital sukuk.
ENBD Capital and Standard Chartered Bank have been mandated as joint global coordinators, while ADBC, ADIB, HSBC, JP Morgan, Kamco Invest, Markaz and Warba Bank are joint lead managers and book runners.
Warba Bank is part-owned by the State of Kuwait and rated Baa2 (Positive) by Moody’s and A (Stable) by Fitch.
A global investor call is to take place Monday, followed by the issuance of a Regulation S $250 million WNG unrated registered perpetual non-call 5.5-year fixed rate resettable AT1 capital sukuk offering, issued by Warba Tier 1 Sukuk (3) Limited.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
