Kuwait

Kuwait's Warba Bank is embarking on a roadshow to market its first senior unsecured sukuk. The dollar five year note is expected to be printed “around the 3% mark”, according to a DCM banker on the deal.

Burgan Bank, a Kuwaiti lender, was able to raise $500m of additional tier one (AT1) capital on Tuesday, returning to the market ahead of its previous AT1’s first call date in September.

The Bank of Bahrain and Kuwait has set pricing for its five year bond.

Burgan Bank is in the market with an additional tier one benchmark, eyeing $500m. The order book has swollen to over $2bn.

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Kuwait International Bank (KIB) made a spectacular bond market debut on Wednesday, securing a $4.6bn book for a $300m additional tier one sukuk bond. The issuer also impressed by placing 51% of the paper with investors from outside the Middle East region.

Kuwait International Bank has come to market for its first ever bond — a $300m additional tier one capital benchmark. It has met strong demand, despite the limited size.

Kuwait International Bank hit screens on Tuesday morning announcing a roadshow for its first ever bond — an unrated additional tier one sukuk with a five year call date.

Equate Group, the Kuwaiti petrochemical producer, has amended and extended its $1.9bn term loan and $1bn revolving credit facility, achieving a reduction in pricing and strong demand from international lenders.

Al Ahli Bank of Kuwait revived its AT1 on Wednesday, having postponed the deal following a roadshow in March this year. But a modest deal size priced in the middle of final guidance left bankers away from the deal saying appetite did not look overwhelmingly strong.

Kuwait Integrated Petroleum Industries Company (Kipic) has secured a multi-billion dollar export credit agency backed loan to finance construction of a $3.6bn integrated refining complex in its home country.

Kuwait’s Burgan Bank has signed a $350m loan with a club of seven relationship banks to refinance borrowing done in 2015.