Dentons on KIB’s capital issuance

Dentons advised Kuwait International Bank on its US§300 million Tier 1 capital sukuk issuance, with local international banks acting as joint lead managers and bookrunners for the transaction.

The Tier 1 capital sukuk was issued by KIB Tier 1 Sukuk 2 Ltd, a special purpose vehicle (SPV) issuer incorporated in the Cayman Islands. The proceeds of the issuance will be used by the Bank to support its additional Tier 1 capital position for the purposes of maintaining its capital adequacy ratios within guidelines laid out by the Central Bank of Kuwait.

Dentons’ team

Partner Alex Roussos (pictured) led Denton’s team, which further comprised senior associate Brian O’ Leary, senior legal consultant Katie Phillips and associate Ed Varney.