DUBAI (Reuters) - Kuwait’s Boubyan Bank on Wednesday gave initial price guidance of around 4.25% for U.S. dollar-denominated Tier 1 Islamic bonds, a document showed.
The sukuk are designed to be perpetual in nature, but can be called after a specified period. The notes are non-callable for six years, the document from one of the banks on the deal showed.
Citi, NBK Capital, Standard Chartered, Abu Dhabi Islamic Bank, Boubyan Capital, Emirates NBD Capital, Kamco Invest, Kuwait International Bank and KFH Capital are arranging the deal, which is expected to close later on Wednesday.
Reporting by Yousef Saba; Editing by Christopher Cushing
Our Standards: The Thomson Reuters Trust Principles.