Burgan Bank, a Kuwaiti lender, was able to raise $500m of additional tier one (AT1) capital on Tuesday, returning to the market ahead of its previous AT1’s first call date in September.
HSBC and JP Morgan were global co-ordinators. Bank ABC, Citi, Emirates NBD, First Abu Dhabi Bank, NBK Capital and Standard Chartered joined the ticket as joint lead managers.
The bond was announced as a perpetual non call five year $500m no-grow.
The leads offered