NASDAQ Dubai welcomes listing of $600m Mudaraba Sukuk by AUBK

NASDAQ Dubai welcomes listing of $600m Mudaraba Sukuk by AUBK

KUWAIT: Ahli United Bank of Kuwait (AUBK) announced its pride of the great success achieved by its issue of Unconvertible Mudaraba Sukuk Additional Tier 1Capital (AT1) of $600 million to enhance its capital base. In this regard, Nasdaq Dubai, the region's international financial exchange, welcomed the listing of these Sukuk. General Manager - Treasury of Ahli United Bank of Kuwait (AUBK) Abdullah Al-Langawy yesterday, rang the Nasdaq Dubai market opening bell to celebrate the listing of the Sukuk.

This issuing reflects AUBK solid position as a leading Islamic financial institution in the region. The listing also underlines the close capital markets' ties between the state of Kuwait and the UAE. The Tier 1 Capital Certificates attracted more than $1.8 billion in orders, covering 3 times the targeted issue size, which emphasizes investors' confidence in the Bank's management, performance and business. The issue offers a return rate of 3.875% p.a., distributed periodically every six months.

On this occasion, Jehad Al-Humaidhi, the Acting Chief Executive Officer at AUBK said: It is the second issuance for AUBK to be listed successfully at NASDAQ Dubai. It is attributable to our trust in NASDAQ's Dubai creditability and transparency in dealing fairly with all issuers and investors while