Kuwait’s NBK plans to issue its debut green bonds: Report

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Kuwait’s largest lender National Bank of Kuwait (NBK) has unveiled its plans to issue its first 6-year non-callable for 5-years green bonds, according to a document reviewed by Reuters on Tuesday.

The Kuwaiti lender has added Citi, HSBC, JP Morgan, and Standard Chartered Bank as joint global coordinators.

Additionally, Emirates NBD Capital, First Abu Dhabi Bank, Goldman Sachs International and National Bank of Kuwait will be working on the debt deal as joint lead managers and joint bookrunners, the document said.

The investor meetings for the debt sale will take place beginning from May 28 and will be followed by a US dollar denominated senior unsecured Green Notes under NBK SPC Limited’s Global Medium Term Note Programme, the document added.

NBK’s diversification strategy

Earlier this year, global asset manager Janus Henderson announced plans to buy the National Bank of Kuwait’s (NBK) alternative investments business in a deal, which is expected to strengthen its position in emerging markets and its access to clients in the Middle East.

As part of the deal, the team at NBK Capital Partners (NBKCP) will join the $353bn asset manager as the firm’s new emerging markets private capital division.

Read: Janus Henderson buys alternative investment unit of Kuwait’s NBK