Kuwait’s Boubyan Bank mandates PNC 5.5-year AT1 sukuk
By Staff Writer
The Kuwait-listed Boubyan Bank, rated A2 by Moody’s, A by S&P and A by Fitch (all with a stable outlook), is marketing a dollar-denominated benchmark sized Regulation S Perpetual Non-Call 5.5-year AT1 sukuk.
HSBC and Standard Chartered Bank are the joint global coordinators on the mandate, alongside Arab Bank, Boubyan Capital, Emirates NBD Capital, First Abu Dhabi Bank, Kamco Invest, KFH Capital, Mashreq and Warba Bank as joint lead managers and bookrunners.
The banks will arrange a pre-recorded global investor call and a series of fixed income investor calls, from today.
The AT1 Capital Certificates will list on the London Stock Exchange on the International Securities Market.
FCA/ICMA stabilisation applies.
(Writing by Bindu Rai, editing by Seban Scaria)