Kuwait – Mubasher: The National Bank of Kuwait (NBK) said that the issue of non-guaranteed bonds worth $750 million has been oversubscribed more than 2.9x the target amount, according to a press statement issued on Wednesday.
This bonds issue is part of the medium-term international bonds issue programme at a maximum value of $3 billion or its equivalent in other currencies.
The subscription’s value has exceeded $2.5 billion, closing at $2.2 billion.
The NBK clarified that investors from the US have acquired 57% of the issue, followed by investors from the MENA region with 26%.
The press statement added that the shares of European investors accounted for 13% of the subscription value, while the Asian market contributed with 4%.
The financial impact from issuing these bonds will be boosting liquidity in foreign currencies, improving regulatory ratios, and diversifying the financing resources, the NBK had previously noted.
