Kuwait’s Burgan Bank launches $500 million perpetual notes at 7¼%

By Christine Van Dusen

Atlanta, Sept. 23 – Kuwait’s Burgan Bank SAK launched a $500 million offering of perpetual notes at 7¼%, a market source said.

The notes were initially talked at a yield in the low- to mid-7% area.

HSBC, Citigroup, JPMorgan and National Bank of Abu Dhabi are the bookrunners for the Regulation S deal.

Burgan Bank is a Sharq-based lender and subsidiary of Kuwait Projects Co. Holding KSC (Kipco).

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