Kuwait: NBK Capital, the leading investment management firm in the region and NBK Group’s investment arm, has been awarded Deal of the Year - Middle East Award 2021 by The Banker magazine owned by The Financial Times, the world's leading global business publication.

The award comes in recognition of the leading role of NBK Capital in successfully issuing US$700 million Regulation S/Rule 144A Perpetual callable 6-year Tier 1 capital securities for National Bank of Kuwait (NBK).

The capital securities will support NBK’s endeavors towards further boosting its capital position and enhancing its capital adequacy ratios in accordance with Basel 3 accord and the instructions of the Central Bank of Kuwait. The Capital securities are rated Baa3 by Moody’s, and the transaction achieved a peak orderbook of US$1.9 billion, translating to an oversubscription of nearly 2.7-fold led by the robust demand of international investors, which had great impact in making the deal rank first among regional peers for this year. NBK Capital was appointed as a joint Global Coordinator, a Joint Bookrunner and a Joint Lead Manager.

Meanwhile, NBK Capital said in a statement, that The Banker's Deal of the Year Award is yet another testimony of the successful strategy aiming at creating value-add investment opportunities for the Firm’s investors, not to mention a reflection of the professionalism and efficiency of the Firm’s team.

“It's a great honor to receive this international recognition that exemplifies the robust and sustainable performance of the Firm in the local and regional markets despite the prevailing challenging economic conditions.” added NBK Capital, indicating that this is yet another proof of the unique and leading position of NBK Capital at all levels as a pioneer in the investment banking sector.

The Firm added that the awards received from international institutions specialized in financial and banking affairs are based on the accurate and sophisticated business model of the Firm, which puts clients of all segments at the center of its operations, while simultaneously meeting all their financial and investment needs.

It is worth mentioning that The Banker’s panel received hundreds of international submissions for this year’s awards. They selected the winners based on specific criteria considering meeting clients’ goals, the deal’s complexity, innovation, as well as the speed of implementation and pricing performance, which confirms the transparent process in selecting companies for the awards.

NBK Capital is a leading advisor and arranger of debt securities in the region, having advised on more than US$24 billion of global and local conventional and Islamic debt capital markets mandates and restructuring assignments to date.

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.