The Commercial Bank of Kuwait announced today, Wednesday, the completion of the issuance of bonds with a total value of 50 million dinars ($163.11 million), representing the second issue of a support bond issuance program within the second tranche of the bank’s capital, with a value not exceeding 100 million dinars.
In 2023, the bank announced its success in offering the first issue worth 50 million dinars within the same program.
He said in a statement to the Kuwait Stock Exchange that the number of bonds issued reached one thousand bonds with a nominal value of 50 thousand dinars per bond, and the issuance price of the second tranche bonds reached 100% of their nominal value, according to Reuters.
These bonds have a maturity period of ten years and mature on July 2, 2034.
The statement explained that the financial impact of this step is to increase the second tranche of the bank’s supporting capital, “which would enhance the bank’s capital adequacy in accordance with the frameworks issued by Basel III.”
Commentaires