RIYADH: Kuwait's Boubyan Bank has hired banks to arrange a sale of a five-year USA dollar unsecured sukuk.

Among the banks are NBK Capital, Bank ABC, KFH Capital, Mizuho Securities, MUFG, the bank said in a press release.

The proceeds will have a positive effect on its liquidity position and diversify its sources of long-term financing. 

It is expected to be worth at least $500 million, depending on market conditions, the bank reported.

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