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The Commercial Bank of Kuwait on Monday said the country's central bank has approved its plan to issue the first tranche of subordinated bonds for a value up to 50 million Kuwaiti dinars ($162 million).
The issuance comes under the bank's KWD 100 million subordinated bonds issuance programme for Tier 2 capital, Commercial Bank of Kuwait said in a regulatory disclosure on the Kuwait bourse on Monday.
The issuance will help diversify the bank's capital base and support assets, the lender said.
(Writing by Brinda Darasha; editing by Daniel Luiz)
