Latest news with #sukuk
Zawya
2 days ago
- Business
- Zawya
KIB Invest plays key role in Boubyan's $3bln sukuk issuance
Kuwait International Bank (KIB) Group has announced that its investment arm, KIB Invest, played a key role as a joint lead manager in the issuance of senior unsecured US dollar-denominated sukuk with a five-year maturity, issued by Boubyan Sukuk on behalf of Boubyan Bank. The issuance, structured according to Wakala and Murabaha principles and valued at $500 million, is part of Boubyan Bank's $3 billion Trust Certificate Issuance Program. It garnered strong interest from both regional and international investors, reflecting solid confidence in Kuwait's Islamic financial and banking institutions. The issuance is supported by Boubyan Bank's strong credit ratings from leading global agencies, including an 'A2' rating from Moody's and an 'A' rating from both Standard & Poor's (S&P) and Fitch. Commenting on the occasion, CEO Jamal Al Barrak said: "KIB Invest is pleased to have participated in this successful joint issuance. Our involvement reflects the market's confidence in the sharia-compliant investment instruments, as well as the trust placed in us by investors and stakeholders across both regional and global markets." Al Barrak also highlighted that KIB Invest is strategically advancing its regional and international expansion by actively participating in high-profile transactions. He affirmed the company's commitment to delivering Sharia-compliant investment solutions through a growing platform, supported by a team of experts and aligned with international standards in Islamic finance. Ma'ab Mohammed Al Qassem, the General Manager of International Banking and Financial Institutions at KIB, expressed her appreciation to Boubyan Bank for their confidence in the capabilities and expertise of KIB Invest's team. "The selection of KIB's investment arm for this landmark issuance underscores the strength of relationships among local banks and sets the stage for deeper partnerships within Kuwait's Islamic banking sector," she stated. "This transaction also highlights KIB's ongoing support for local banks and its role in empowering regional financial institutions through strategic partnerships that enhance access to capital markets," she added. Al Qassem further reaffirmed KIB's commitment to fostering the growth of capital markets through innovative, Sharia-compliant solutions designed to deliver strong long-term investment value. The sukuk issuance was jointly arranged by HSBC, Standard Chartered, and Citibank as global coordinators. In addition to KIB Invest, a number of prominent regional financial institutions also participated in managing the issuance, including Arab Banking Corporation, Boubyan Capital Investment Company, KFH Capital Investment Company, Warba Bank, Dubai Islamic Bank, SMBC Bank International, and the Islamic Corporation for the Development of the Private Sector. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Bloomberg
2 days ago
- Business
- Bloomberg
Somalia Sets Up Its First Exchange to Trade Stocks, Sukuk Bonds
Somalia will begin trading equities and government-issued sukuk bonds on a new exchange early next year, as the Horn of Africa nation seeks integration into regional and global financial markets. The National Securities Exchange of Somalia initially will target stock listings from companies in telecommunications, banking, real estate, energy and agriculture to drive economic growth in the country, according to a statement by the bourse.
Zawya
3 days ago
- Business
- Zawya
Saudi National Bank issues $1.2bln T2 notes at 6%
Saudi National Bank has issued $1.25 billion in dollar-denominated Tier 2 notes at a profit rate of 6.00%. The Reg S 10-year non-call 5 notes are being issued under the bank's $10 billion Euro medium Term Note programme. In a separate statement on Tadawul, the lender said it will redeem 4.2 billion riyals ($320 million) Tier 1 capital sukuk at face value on June 30, five years after the date of issuance. (Writing by Brinda Darasha; editing by Seban Scaria)
Zawya
3 days ago
- Business
- Zawya
Islamic Development Bank prices $1.2bln sukuk
Saudi Arabia-based Islamic Development Bank (IsDB) has priced its $1.2 billion five-year US dollar Reg S sukuk at 4.246%. The spread is SOFR midswaps plus 57 basis points (bps), a shade tighter than initial price thoughts (IPTs) at MS+58. BBVA, BMO Capital Markets, Citi, Emirates NBD Capital, Goldman Sachs International, NATIXIS, Societe Generale and Standard Chartered Bank have been appointed Joint Lead Managers. It will be listed on Euronext Dublin and Nasdaq Dubai. (Writing by Brinda Darasha; editing by Seban Scaria)
Al Bawaba
3 days ago
- Business
- Al Bawaba
KIB Group, represented by KIB Invest, serves as Joint Lead Manager in Boubyan Bank's USD3 billion sukuk issuance
Kuwait International Bank (KIB) Group announced that its investment arm, KIB Invest, successfully participated as a Joint Lead Manager (JLM) in the issuance of senior unsecured U.S. dollar-denominated sukuk with a five-year maturity, issued by Boubyan Sukuk Limited on behalf of Boubyan issuance, structured according to Wakala and Murabaha principles and valued at USD 500 million, is part of Boubyan Bank's USD 3 billion Trust Certificate Issuance Program. It garnered strong interest from both regional and international investors, reflecting solid confidence in Kuwait's Islamic financial and banking issuance is supported by Boubyan Bank's strong credit ratings from leading global agencies, including an 'A2' rating from Moody's and an 'A' rating from both Standard & Poor's (S&P) and on the occasion, Jamal Al Barrak, CEO of KIB Invest, said: 'We are pleased to have participated in this successful joint issuance. KIB Invest's involvement reflects the market's confidence in our Sharia-compliant investment instruments, as well as the trust placed in us by investors and stakeholders across both regional and global markets.'Al Barrak also highlighted that KIB Invest is strategically advancing its regional and international expansion by actively participating in high-profile transactions. He affirmed the company's commitment to delivering Sharia-compliant investment solutions through a growing platform, supported by a team of experts and aligned with international standards in Islamic her part, Ma'ab Mohammed Al Qassem, General Manager of International Banking and Financial Institutions at KIB, expressed her appreciation to Boubyan Bank for their confidence in the capabilities and expertise of KIB Invest's team. She noted that the selection of KIB's investment arm for this landmark issuance underscores the strength of relationships among local banks and sets the stage for deeper partnerships within Kuwait's Islamic banking added: 'This transaction also highlights KIB's ongoing support for local banks and its role in empowering regional financial institutions through strategic partnerships that enhance access to capital markets.'Al Qassem further reaffirmed KIB's commitment to fostering the growth of capital markets through innovative, Sharia-compliant solutions designed to deliver strong long-term investment sukuk issuance was jointly arranged by HSBC, Standard Chartered, and Citibank as global coordinators. In addition to KIB Invest, a number of prominent regional financial institutions also participated in managing the issuance, including Arab Banking Corporation, Boubyan Capital Investment Company, KFH Capital Investment Company, Warba Bank, Dubai Islamic Bank, SMBC Bank International, and the Islamic Corporation for the Development of the Private Sector. It is worth noting that KIB, through its investment arm KIB Invest, continues to solidify its position in the debt capital markets, driven by deep market expertise, disciplined execution, and a specialized team dedicated to providing Sharia-compliant financial solutions tailored to the needs of sovereign and institutional clients across the region.
