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Wed 13 Jan 2016 12:09 PM

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Kuwait's Burgan Bank says in final stages of picking banks for $328m bond

Lender could market the bond as soon as this week

Kuwait's Burgan Bank says in final stages of picking banks for $328m bond

Burgan Bank, Kuwait's third-largest lender by assets, said on Wednesday it was in the final stages of picking banks for arranging a 100 million dinar ($328.9 million) bond issue.

The lender said it was finalising the arrangement of the bond and its marketing, it said in a bourse statement.

Reuters reported on Monday that the Kuwaiti bank had mandated NBK Capital and KIPCO Asset Management Co (KAMCO) as lead managers and could market the bond as soon as this week.

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