Boubyan Bank of Kuwait has issued a mandate for a new five-year, dollar-denominated senior unsecured sukuk, aiming to bolster its liquidity and diversify long-term funding. The sukuk, structured as Wakala/Murabaha, will feature a fixed, semi-annual coupon and be listed on Euronext Dublin. With ratings of A from Fitch and S&P, and A2 from Moody’s, the issuance highlights the bank’s financial strength. Standard Chartered, HSBC, and Citi Bank are global coordinators, supported by a consortium of joint lead managers. This move comes after a previous $500 million sukuk in 2022 and amidst recent industry consolidation efforts.
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