Warba Bank lists US$250m Tier 1 Capital Certificates on the MSM
Warba Bank, through issuing vehicle Warba Tier 1 Sukuk Limited, has listed U.S. $250m Tier 1 Capital Certificates on the Main Securities Market (MSM) of the Irish Stock Exchange (ISE).
Warba is a Kuwaiti bank focused on lending to, and accepting deposits from, institutions, companies and residents in Kuwait and also provides a range of corporate banking, retail banking and investment and treasury services to customers through its network of 10 branches.
Dentons acted as English law counsel to Warba Bank. The Certificates are perpetual securities and have no fixed or final redemption date.
Listing debt on the ISE
The ISE is among the leading centres globally for listing bonds, with debt listings growing by 7% in 2016 to reach over 29,000 securities. The ISE offers two markets for listing bonds, the Global Exchange Market (GEM) and the Main Securities Market (MSM).