DUBAI, March 29 (Reuters) - Al Ahli Bank of Kuwait has set initial price guidance for a U.S. dollar-denominated bond in the 175 basis points over mid-swaps area, a document from one of the lead banks showed on Wednesday.
The senior unsecured, Regulation S registered bond has a five-year tenor and will be of benchmark size, which conventionally means upwards of $500 million.
Citi, HSBC and National Bank of Abu Dhabi are the joint lead managers and bookrunners. The bond is expected to price later on Wednesday.
Al Ahli Bank of Kuwait is rated A2 by Moody’s and A+ by Fitch. (Reporting by Umesh Desai; writing by Davide Barbuscia; Editing by Andrew Torchia)