National Industries Group holding successfully completes KD 40mln bond issuance

National Industries Group holding successfully completes KD 40mln bond issuance

- Ahmed Hassan: National Industries Group Holding’s latest achievement marks a new milestone

- Ali Khalil: Markaz is consolidating its leadership in the Investment Banking sector

- Tony Daher: Our recent achievement is a testament to Gulf Bank’s commitment to meeting the banking and investment needs of its customers

Kuwait: With National Industries Group Holding K.P.S.C. (“NIGH” or the “Group”) as the Issuer, and Kuwait Financial Centre “Markaz” and Gulf Bank serving as the Joint Lead Managers, the three parties announced in a joint statement the success of the KWD bond issuance for the National Industries Group Holding with a nominal value of 40 million Kuwaiti Dinars for a five-year term. The latest bond issuance demonstrates investors’ trust in the quality of the offer and the high creditworthiness of National Industries Group Holding, as well as the effectiveness of distribution by Markaz and Gulf Bank as the lead managers. Furthermore, the issuance marks the first Kuwaiti Dinar-denominated bond issuance so far in Kuwait in 2022.

The National Industries Group Holding bonds were issued in two tranches, the first with a fixed rate at 5.25% per annum, payable on a quarterly basis, and the second tranche with a floating rate at 2.25% above the Central