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| 19 September, 2018

Al Ahli Bank of Kuwait prints $300mln perpetual bond

Perpetual bonds are similar to an equity instrument in the fact that they have no maturity

Traders monitor stock information at the Borsa Kuwait Stock Exchange, in Kuwait City, Kuwait November 9, 2016. Image used for illustrative purpose.

Traders monitor stock information at the Borsa Kuwait Stock Exchange, in Kuwait City, Kuwait November 9, 2016. Image used for illustrative purpose.

REUTERS/Stephanie McGehee

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.

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Citi, HSBC, and JPMorgan arranged the transaction.

(Reporting by Davide Barbuscia; Editing by Kirsten Donovan) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))