Mubasher: BBK, formerly known as Bank of Bahrain and Kuwait, started on Sunday the subscription of perpetual tier 1 convertible bonds that are worth BHD 100 million, according to a statement.
BBK, Kuwait’s fourth-largest lender by assets, said that the bonds will be issued without priority rights attached. The subscription period will end 18 April.
The nominal value will stand at BHD 1 per each bond, the statement added.
It is noteworthy that the bank’s current capital stands at BHD 108.16 million that is distributed on 1.081 billion shares, with a nominal value of BHD 0.10 per share.
