{"id":116134,"date":"2021-06-09T14:09:26","date_gmt":"2021-06-09T14:09:26","guid":{"rendered":"https:\/\/fin2me.com\/?p=116134"},"modified":"2021-06-09T14:09:26","modified_gmt":"2021-06-09T14:09:26","slug":"kuwaits-ahli-united-bank-sells-600-million-islamic-bond","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/kuwaits-ahli-united-bank-sells-600-million-islamic-bond\/","title":{"rendered":"Kuwait's Ahli United Bank sells $600 million Islamic bond"},"content":{"rendered":"
DUBAI (Reuters) -Kuwait\u2019s Ahli United Bank has sold $600 million in Additional Tier 1 Islamic bonds at 3.875%, a document showed on Wednesday.<\/p>\n
Pricing on the bond tightened from an initial price guidance of around 4.375% after the debt sale attracted more than $1.7 billion in orders, the document from one of banks on the deal showed.<\/p>\n
Additional Tier 1 (AT1) bonds are designed to be perpetual in nature, but issuers can redeem or \u201ccall\u201d them after a specified period. Ahli United Bank\u2019s AT1 sukuk will be non-callable for 5-1\/2 years.<\/p>\n
Kuwait\u2019s Ahli United, nearly three-quarters owned by Bahrain\u2019s Ahli United Bank, hired Citi, HSBC, Standard Chartered, Abu Dhabi Islamic Bank, Kamco Invest, KFH Capital and Kuwait International Bank to arrange the deal.<\/p>\n