By Rebecca Melvin
New York, Aug. 7 – Kuwait’s Burgan Bank KPSC priced $500 million 5.7492% perpetual notes, which are non-callable for five years, at par, according to a regulatory notice.
Bank ABC, Citi, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JPMorgan, NBK Capital and Standard Chartered Bank were the stabilizing managers. HSBC was the stabilization coordinator.
The stabilization period will end on Aug. 8.
The maximum over-allotment option will be 5% of the total nominal amount.
Burgan Bank is a Sharq-based lender and subsidiary of Kuwait Projects Co. Holding KSC (Kipco).
| Issuer: | Burgan Bank SAK
|
| Amount: | $500 million
|
| Maturity: | Perpetual
|
| Description: | Notes
|
| Bookrunners: | HSBC, Bank ABC, Citi, Emirates NBD Capital, First Abu Dhabi Bank, JPMorgan, NBK Capital and Standard Chartered Bank
|
| Coupon: | 5.7492%
|
| Price: | Par
|
| Yield: | 5.7492%
|
| Call: | Non-callable for five years
|
| Announcement date: | Aug. 7
|
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