Kuwait - Mubasher: Kuwait Financial Centre (Markaz) and Gulf Bank announced on Monday the successful completion of the 5-year bonds issue with a nominal value of KWD 25 Million, which was oversubscribed, according to a joint statement.
According to the statement, Markaz, the issue manager, appointed Gulf Bank as the financial advisor and sales agent.
The bonds were issued in two tranches, one with a fixed interest rate of 5% annually payable quarterly, while the other tranche offers a floating interest rate of 2.25% above the central bank of Kuwait discount rate, annually and payable quarterly.
