Latest news with #Tier1Capital
Zawya
30-06-2025
- Business
- Zawya
National Bank of Kuwait mandates banks for AT1 issuance
The National Bank of Kuwait (NBK), the Gulf country's largest bank by total assets, has issued a mandate for a fixed rate resettable non-call 6-year USD benchmark Rule 144A/Reg S Perpetual Tier 1 capital issuance, subject to market conditions. The Kuwaiti lender rated A1 / A / A+ (all stable, by Moody's / S&P / Fitch), has mandated Citi, HSBC, JP Morgan, and Standard Chartered Bank as Joint Global Coordinators, along with ADCB, Emirates NBD Capital, First Abu Dhabi Bank, Kamco Invest and National Bank of Kuwait as Joint Lead Managers and Joint Bookrunners. The issuance is expected to be rated Baa3 by Moody's and will be listed on London Stock Exchange's International Securities Market. Proceeds will be used to support its Tier 1 Capital and for its general corporate purposes, which may include funding any purchase of the $750 million Perpetual Tier 1 Capital Securities issued by NBK Tier 1 Financing and pursuant to the tender offer for such securities announced on 30 June 2025. Citi, HSBC, JP Morgan, and Standard Chartered Bank are appointed as the dealer managers. The expiration deadline for the tender is 8 July, 2025. (Writing by Bindu Rai, editing by Seban Scaria)
Argaam
19-05-2025
- Business
- Argaam
Alinma Bank plans USD-denominated AT-1 sukuk
Alinma Bank plans to issue USD-denominated additional Tier 1 (AT1) sukuk, following a May 5 board resolution authorizing the CEO to take all necessary steps to execute the issuance. In a statement to Tadawul, the bank said the sukuk will likely be issued through a special purpose vehicle and offered to eligible investors in Saudi Arabia and internationally. Alinma Bank mandated Abu Dhabi Islamic Bank, Alinma Investment, Emirates NBD, J.P. Morgan Securities, and Standard Chartered Bank as joint lead managers. The size and terms of the issuance will be determined based on market conditions. Proceeds will be used to strengthen the bank's Tier 1 capital and support general banking activities. The offering is subject to regulatory approvals and will comply with all applicable laws and regulations. Alinma Bank said it will disclose any material developments in line with regulatory requirements.
