NBK gets approval for capital-boosting bond
KUWAIT, October 4, 2015
National Bank of Kuwait (NBK) has received central bank approval to issue capital-boosting bonds worth up to KD125 million ($413.6 million), the Gulf Arab state's largest commercial lender said in a bourse filing on Sunday.
The lender has also received preliminary approval from the stock market regulator, it said in the filing.
NBK will be issuing bonds which will be Basel III-compliant and will enhance its Tier 2, or supplementary, capital, the statement added.-Reuters