DUBAI: Al Ahli Bank of Kuwait ABKK.KW has issued $300 million in perpetual bonds, according to a bank document seen by Reuters.
Perpetual bonds are similar to an equity instrument in the fact that they have no maturity.
The Kuwaiti lender, rated A2 by Moody's and A+ by Fitch, priced the Tier 1 paper on Wednesday with a coupon rate of 7.25 percent.
Citi, HSBC, and JPMorgan arranged the transaction.
(Reporting by Davide Barbuscia; Editing by Kirsten Donovan) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: email@example.com))