Warba Bank acted as Joint Lead Arranger and Book-runner on the successfully placed Sukuk issuance for Arabian Centres Company (“ACC”), rated Ba2/BB+ by Moody’s and Fitch. The five and half year 650 Million Dollar was issued with a fixed coupon rate of 5.625 %. Warba Bank was appointed alongside other regional and international financial institutions to manage the issuance which listed on The International Stock Exchange and Channel Islands.
Thuwaini Khalid Al Thuwaini, Chief Investment Banking Group at Warba Bank said that the Sukuk issuance was successful in generating an order book reaching over US$ 1.3 Billion. We are pleased to play such a lead role on this sukuk issuance for Arabian Centres Company.
Al Thuwaini pointed out that the transaction was successfully led by Albilad Investment Company, Credit Suisse Securities (Europe) Limited, Goldman Sachs International, HSBC, J.P. Morgan, Kamco Investment Company, and Warba Bank as Joint Lead Managers and Bookrunners.
Al Thuwaini added that Warba Bank continues to support the business sector in emerging markets by providing them with bespoke financing and investment solutions that are flexible and efficient. This is based on the Bank's strategy to establish Warba Bank as a leader in the corporate and investment sector both in Kuwait and in the international markets.
