ASAR with NBK on green notes issuance
ASAR acted as Kuwait law counsel to National Bank of Kuwait (NBK) regarding a landmark issuance of green notes by a Kuwait based financial institution. The issuance comprised US$500,000,000 fixed to floating rate green notes due 6 June 2030 by NBK under its US$5,000,000,000 Global Medium Term Note Programme.
About the issuance
This inaugural issuance not only marks the first green notes issuance by NBK but is also the first of its kind out of Kuwait; it further highlights NBK commitment to sustainable and transition finance. NBK successfully priced the issuance of the Notes which had a final coupon of 5.500 percent, fixed with semi-annual coupon payments until their first call date, followed by a floating rate of SOFR + 116 bps paid quarterly thereafter. The Notes will be listed on the Irish Stock Exchange (Euronext Dublin).
ASAR team
ASAR’s team comprised Rob Little (pictured left), partner John Cunha (pictured center), of counsel Emile Helou (pictured right) and associate Mustafa Sayed.
