The primary market is heating up in Kuwait, after Kuwait international bank announced a bond deal and kipco registered a prospectus for an EMTN programme. KIB has appointed banks for a perpetual non-call five-year AT1 sukuk issue. The bank, which is rated A+ by Fitch, has the sign-off from Kuwait's capital markets authority to raise up to US$300m. Burgan Bank, Al Ahli Bank of Kuwait and National Bank of Kuwait have all previously issued in the AT1 format. The roadshow began in Singapore on Thursday, and meetings will finish in London on Tuesday.
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