Al Ahli Bank of Kuwait prints $300 million perpetual bond
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DUBAI, Sept 19, (RTRS): 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.
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