Boubyan Bank’s #sukuk issuance oversubscribed, reaches $1.3bn
Boubyan Bank’s CEO Adel Abdul Wahab Al-Majed said the bank succeeded in covering its capital enhancement sukuk which was oversubscribed by more than 5 times the targeted amount, reaching US$ 1.3 bn. This was achieved during a marketing period of two weeks from the date of obtaining the regulatory approvals from the Capital Markets Authority and the Central Bank of Kuwait. Boubyan Bank issued US$ 250 million sukuk, priced at 100%, which will bear profit at a rate of 6.75%.
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