Kuwait – Mubasher: National Industries Group Holding said that the Capital Markets Authority (CMA) approved the prospectus of issuing and marketing the debt bonds with a maximum value of KWD 25 million ($82.3 million).
The bonds have duration period of five years, with a floating interest rate of 2.25% above the discount price announced by the Central Bank of Kuwait, according to a bourse statement issued on Sunday.
National Industries, which is listed on both KSE and DFM, said that the payment will be each three years, and the bonds are expected to be issued before 31 December, 2016.
Al Ahli Capital Investment Company will be the bonds’ issue manager and agent, the company added.
In case of full subscription, the company’s liabilities will be expected to increase within a range of KWD 5 million, the statement said, adding that the impact of the bonds issuance will be registered in the financial statements of the fiscal year ending 31 December, 2016.
