Mubasher: The Capital Markets Authority (CMA) has granted its approval for United Real Estate to issue bonds valued at KWD 50,000 and with a maximum value of KWD 60 million.
The CMA approved issuing the bonds as long as the maturity period does not exceed five years starting from the issuance date for private subscription, according to a bourse filing on Sunday.
The yield from issuing the bonds will be used to repay an existing debt in addition to financing United Real Estate’s business.
KAMCO Investment has been appointed as a lead manager for issuing, selling, and promoting the bonds.
At the stock level, United Real Estate closed Sunday’s trading session at 68 fils.
