Kuwait Finance House KFH.KW has hired KFH Capital and Standard Chartered as global coordinators for a planned sale of U.S. dollar-denominated Additional Tier 1 sukuk that will be non-callable for 5-1/2 years, a document reviewed by Reuters showed on Monday.
Along with KFH Capital and Standard Chartered STAN.L, Boubyan Bank BOUK.KW, Dubai Islamic Bank DISB.DU, Dukhan Bank, Emirates NBD Capital ENBD.DU, First Abu Dhabi Bank FAB.AD and Mizuho Securities 8411.T will arrange fixed income investor calls starting on Monday, the document from one of the banks showed.
An issuance of the AT1 Islamic bonds will follow, subject to market conditions. AT1 bonds, the riskiest debt instruments banks can issue, are designed to be perpetual, but issuers can redeem them after a specified period.
Source: Nasdaq