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Burgan Bank gets approval for $1.5bn EMTN programme

KUWAIT CITY, July 3, (KUNA): Burgan Bank obtained the approval of Ireland’s Central Bank for establishing a Euro medium-term note (EMTN) programme worth $ 1.5 billion.

In a press statement Sunday, Burgan Bank said that Fitch has affirmed the programme at “+A”, while Moodys affirmed it at “A3”.

Furthermore, the programme was also approved by the Central Bank of Kuwait and the Capital Markets Authority (CMA).

Burgan Bank has appointed HSBC Bank as the sole arranger for EMTN programme, while Emirates NBD, HSBC, NBAD, Societe Generale Corporate Investment Banking, and Standard Chartered Bank as agents for the programme. This step will offer a new source of credit for Burgan Bank, the statement added.

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