By Aaron Hochman-Zimmerman
New York, Aug. 15 - National Industries Group (NIG) priced $475 million of five-year unsubordinated notes (Baa2) at par to yield Libor plus 105 basis points, according to a term sheet.
BNP Paribas, Citigroup, Standard Chartered, Watani Investment Bank, and WestLB were mandated as bookrunners for the deal.
The sukuk, due in Aug. 2012, is part of a $1.5 billion sukuk program.
NIG is a Safat, Kuwait-based investment bank.
Issuer: NIG Sukuk Ltd. (National Industries Group)
| Amount: | $475 million
|
| Maturity: | August 2012
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| Bookrunners: | BNP Paribas, Citigroup, Standard Chartered, Watani Investment Bank, and WestLB
|
| Coupon: | Libor plus 105 bps
|
| Price: | Par
|
| Yield: | Libor plus 105 bps
|
| Call: | Non-callable
|
| Pricing date: | Aug. 15
|
| Settlement date: | Aug. 16
|
| Ratings: | Moody's: Baa2
|
| Distribution: | Regulation S
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