Deals
Burgan Bank of Kuwait to Sell Bonds This Year Amid Expansion
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Burgan Bank SAK, the third-biggest Kuwaiti lender by assets, plans to raise 100 million dinars ($354 million) from a bond sale this year to boost capital as it expands, the chief executive officer said.
The seven- or 10-year notes will probably be denominated in the local currency, Eduardo Eguren said in an interview yesterday at the bank’s headquarters in Kuwait City. The lender expects to get central bank approval for the sale in the next few days and has appointed Kipco Asset Management Co. as an adviser, he said. NBK Capital Ltd., the investment banking unit of National Bank of Kuwait SAK, is also working on the bond.