Kuwait – Mubasher: Gulf Bank of Kuwait (GBK) on Tuesday said it issued on 30 May bonds worth KWD 100 million ($330.15 million) in Kuwait.
Returns from the bond issuance will be used to boost the bank’s capital base (Tier 2) in accordance with Basel 3 requirements, GBK said in a filing to the Kuwait Stock Exchange (KSE).
In mid-March, the Kuwaiti bank said it received the approval of the Capital Markets Authority (CMA) for issuing the bonds for a 10-year period starting the issue date.
