Kuwait, 7 December 2024

Kuwait International Bank, through its investment arm KIB Invest, proudly served as Joint Lead Manager (JLM) in the issuance of a seven-year, USD-denominated senior unsecured 144A/Regulation-S Sukuk for the Kingdom of Bahrain via CBB International Sukuk Programme Company W.L.L. Rated B+ (stable) by both Fitch and S&P, the issuance garnered exceptional market interest, reflecting strong investor confidence. The Sukuk, structured under Ijara and Murabaha principles, raised USD 1.25 billion and attracted an overwhelming USD 3.5 billion in orders—an oversubscription of 2.8 times. Priced at a competitive fixed coupon rate of 5.875%, and listed on the London Stock Exchange, this successful offering underscores Bahrain’s appeal in the global Islamic finance market.

The success of this landmark Sukuk issuance was further enhanced by the collaboration of other esteemed Joint Lead Managers, globally recognized for their expertise and leadership in Islamic finance. Alongside KIB Invest, other JLMs included Dubai Islamic Bank, First Abu Dhabi Bank, J.P. Morgan, Mashreq, National Bank of Bahrain, and Standard Chartered Bank.

“Shariah-compliant banking and investments offer solutions to the modern market’s most pressing sustainability concerns regarding the industry’s impact on the local and global communities. That’s why more and more stakeholders worldwide are turning their attention to the investment opportunities that Islamic banking offers,” commented Raed Jawad Bukhamseen, Vice Chairman and CEO of KIB. “With the traction Shariah-compliant investments have today, we are proud to remain a trusted partner for some of the world’s biggest investors and market players.”

On his part, Jamal Hamad Al-Barrak, CEO of KIB Invest, said: “We are privileged to collaborate with industry leaders as we participated in the launch of Central Bank of Bahrain’s new sukuk. KIB Invest’s participation in a major issuance at such an early point in its journey is a testament to its competitive capacity to establish itself as a trusted investment partner in regional and global markets.”

Al-Barrak further highlighted that this marks the first sovereign issuance in which KIB Invest has served as a Joint Lead Manager (JLM), underscoring the confidence regional issuers have placed in KIB Invest’s financial expertise and market reach. KIB Invest is committed to delivering Shariah compliant investment products and services through a diversified suite of investment solutions tailored to meet clients’ evolving needs. In adherence to KIB’s commitment to international market standards of Islamic investment excellence, KIB Invest relies on a team of seasoned professionals with extensive experience in local and global markets.