September 19, 2018 / 4:02 PM / a month ago

Al Ahli Bank of Kuwait prints $300 mln perpetual bond

DUBAI, Sept 19 (Reuters) - Al Ahli Bank of Kuwait has issued $300 million in perpetual bonds, according to a bank document seen by Reuters.

Perpetual bonds are similar to an equity instrument in the fact that they have no maturity.

The Kuwaiti lender, rated A2 by Moody’s and A+ by Fitch, priced the Tier 1 paper on Wednesday with a coupon rate of 7.25 percent.

Citi, HSBC, and JPMorgan arranged the transaction. (Reporting by Davide Barbuscia; Editing by Kirsten Donovan)

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