Friday 28, December 2012 by Robin Amlôt

Burgan Bank completes KWD 100 million subordinated bond issue

Burgan Bank has announced the successful completion of a KWD 100 million ($356 million) Lower Tier II subordinated bond issue. The bond marks the first KWD -denominated Lower Tier II (LT2) subordinated bond, largest private sector KWD issuance and longest tenor in Kuwaiti market to be issued by a Kuwaiti bank. KIPCO Asset Management Company (KAMCO) and Watani Investment Company (NBK Capital) jointly managed the bond issuance.

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