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Report: Boubyan Bank to launch road shows for potential sukuk issue

selectedbanks to arrange a series of fixed-income meetings with investors for apotential dollar-denominated sukuk issue aimed at bolstering the Kuwaitilender's Tier 1 capital, Reuters reported April 27.

TheNational Bank of KuwaitS.A.K.P. unit picked Dubai Islamic Bank, Emirates NBD Capital,HSBC, KFH Capital, National Bank of Kuwait, Standard Chartered and itself to organizethe meetings, the newswire wrote, citing a document from lead arrangers. Theroad shows for the issue, which is subject to market conditions, will begin inthe United Arab Emirates on May 1, followed by Hong Kong, Singapore, London,Zurich and Geneva, according to the report.

CEOAdel Al Majed said inMarch that Boubyan Bank would issue a $250 million sukuk before the end ofApril.