Home Industry Finance Kuwait’s Burgan Bank Attracts Orders Over $650m For Tier 1 Bond The bond with a perpetual tenor can be bought back by the lender after the fifth year. by Reuters September 23, 2014 Kuwait’s Burgan Bank has attracted orders in excess of $650 million for its Tier 1 capital-boosting bond issue, which should price later on Tuesday, according to the lead managers. The lender has kept price guidance unchanged in the low to mid-seven per cent area on Tuesday morning, the level indicated on Monday, the document showed. The bond with a perpetual tenor can be bought back by the lender after the fifth year, and will be benchmark-sized, traditionally understood to mean upwards of $500 million. HSBC is the global coordinator and Citi, JP Morgan and National Bank of Abu Dhabi are lead managers for the bond sale. 0 Comments
