Kuwait International Bank (KIB), through its investment arm, KIB Invest Company, announced its participation as a joint bookrunner in the latest international issuance, consisting of two tranches for the Ministry of Finance and National Economy represented by the Central Bank of Bahrain.

The issuance comprises senior unsecured sukuk denominated in dollars with a term of 8 years, structured according to the Ijarah and Murabaha principles, and issued under Rule 144A/Reg S.

 The sukuk tranche, rated (B+) with a stable outlook of both Fitch and Standard & Poor's, witnessed strong demand from regional and international investors. The demand for the issuance exceeded 2.5 times the target amount of $1.75 billion, surpassing $4.4 billion, enabling the issuer to price the sukuk with a competitive yield of 6.25%.

Citibank, First Abu Dhabi Bank, HSBC, JPMorgan, and National Bank of Bahrain were appointed as joint global coordinators, while KIB Invest, Dubai Islamic Bank, and Boubyan Capital acted as joint bookrunners for the sukuk tranche.

In this regard, the Vice Chairman and CEO of KIB, Raed Jawad Boukhamsin, stated: "We are pleased to participate for the second time in one of the issuances belonging to a prestigious sovereign entity, which clearly reflects market confidence in the capabilities of our Islamic investment instruments on one hand and the trust of investors and stakeholders in the region and worldwide on the other." He emphasized, "At KIB, we are committed to supporting the growth of capital markets through innovative, Sharia-compliant solutions that provide high potential for long-term value."

For his part, the CEO of KIB Invest, Jamal Al-Barak, said: "Our selection once again to participate in the management of a sovereign sukuk is a strong testament to our growth and expansion capabilities in global debt markets. It also highlights our successful role in managing the issuance and the strategic progress that makes KIB Invest a key player in the Islamic finance sector in general and in the debt capital markets specifically."

He expressed pride in the fact that this transaction represents the largest issuance in which KIB participates as a joint lead bookrunner, reflecting the bank’s credibility and presence in the market.

He added: "We reaffirm our commitment to supporting transactions that enhance sustainable economic growth and strengthen financial connectivity in regional markets."