|24 September, 2019

NBK Capital manages Warba Bank’s $500m sukuk issue

The issue was oversubscribed by 6.3 times

A trader holds prayer beads as he works at the Saudi Investment Bank in Riyadh. Image used for illustrative purpose.

A trader holds prayer beads as he works at the Saudi Investment Bank in Riyadh. Image used for illustrative purpose.

REUTERS/Fahad Shadeed/Files

Kuwait -  NBK Capital, a subsidiary of National Bank of Kuwait (NBK), has acted as a local bookrunner among other regional and global bookrunners for Warba Bank’s five-year $500 million unsecured sukuk issue, according to a statement released on Tuesday.

Oversubscribed by 6.3 times, the issue was highly-demanded by local, regional, and global investors, NBK Capital said.

The investment company revealed that Warba Bank is planning to list the sukuk on the Irish Stock Exchange (ISE) or Nasdaq Dubai.

Source: Mubasher

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