Kuwait Finance House hires banks for dollar AT1 Islamic bonds – document
REUTERS/Mohamed Abd El Ghany
An employee counts U.S. dollar bills at a money exchange office in central Cairo, Egypt, March 20, 2019. Image for illustrative purposes.
DUBAI – Kuwait Finance House has hired KFH Capital and Standard Chartered as global coordinators for a planned sale of U.S. dollar-denominated Additional Tier 1 sukuk that will be non-callable for 5-1/2 years, a document reviewed by Reuters showed on Monday.
Along with KFH Capital and Standard Chartered, Boubyan Bank, Dubai Islamic Bank, Dukhan Bank, Emirates NBD Capital, First Abu Dhabi Bank and Mizuho Securities will arrange fixed income investor calls starting on Monday, the document from one of the banks showed.
An issuance of the AT1 Islamic bonds will follow, subject to market conditions. AT1 bonds, the riskiest debt instruments banks can issue, are designed to be perpetual, but issuers can redeem them after a specified period.
(Reporting by Yousef Saba, editing by Louise Heavens) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))
