Warba Bank lists $250m sukuk on Nasdaq Dubai

Warba Bank lists $250m sukuk on Nasdaq Dubai

Kuwait’s Warba Bank rang the market-opening bell to celebrate the listing of its $250m perpetual Tier-1 sukuk on Nasdaq Dubai on Tuesday. This is the third sukuk listing by Warba Bank on Nasdaq Dubai, following the listing of a $250m and a $500m instrument in March 2017 and October 2019 respectively. The new listing brings the total outstanding value of the bank’s sukuk on the exchange to $898m. The latest issuance was oversubscribed 4.4 times. “Our latest sukuk issuance witnessed significant success in attracting regional and international investors and is a clear testament on their confidence in Warba Bank’s expansion strategy in various business activities such as investment, treasury, corporate and retail banking,” said Shaheen H. Al-Ghanem, CEO of Warba Bank. “We are delighted to list this issuance on Nasdaq Dubai, leveraging on its world-class regulations, infrastructure and services that provide our Sukuk with a strong presence and links with regional and global investors. The listing also further strengthens the ties between the capital markets of Kuwait and the UAE,” noted Al-Ghanem. With Warba’s latest listing, the total value of sukuks on Nasdaq Dubai now stands at $79.4bn. “Nasdaq Dubai is pleased to welcome the new sukuk issuance from Warba