January 17, 2018 / 3:59 PM / 10 months ago

Kuwait's ALAFCO considers issuing Islamic bond - CEO

KUWAIT, Jan 17 (Reuters) - Kuwait’s Aviation Lease and Finance Company (ALAFCO) is considering issuing an Islamic bond, its chief executive said on Wednesday.

ALAFCO will seek a credit rating before approaching the market, Ahmad Abdullah Alzabin told Reuters at an air show in Kuwait.

The company is still deciding how much it might seek to raise, and when it might issue the sukuk, he said.

ALAFCO raised $300 million through an Islamic facility last September.

ALAFCO owns 68 aircraft worth around $3 billion and has a further 127 aircraft on order, Alzabin said. (Reporting by Alexander Cornwell; Editing by Mark Potter)

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