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KIB issues USD 500M sukuk for five years
Kuwait International Bank (KIB) announced the successful pricing of its first issuance of unsecured subordinated sukuk worth $500 million for a five-year term, as part of a $1.5 billion issuance program. The issuance took place in an evolving global market environment, with investor demand exceeding the issue volume by more than 2.4 times. The annual yield was 5.502%, with a final pricing spread of 95 basis points above the U.S. Treasury bond yield. This success reflects investor confidence in the bank’s financial position and its strategy to diversify funding sources. It also supports the bank’s goals of strengthening its international presence and managing liquidity effectively. The issuance will be listed on the London Stock Exchange and has a maturity date of September 10, 2031.
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