DUBAI, Sept 19 (Reuters) - Al Ahli Bank of Kuwait has issued $300 million in perpetual bonds, according to a bank document seen by Reuters.
Perpetual bonds are similar to an equity instrument in the fact that they have no maturity.
The Kuwaiti lender, rated A2 by Moody’s and A+ by Fitch, priced the Tier 1 paper on Wednesday with a coupon rate of 7.25 percent.
Citi, HSBC, and JPMorgan arranged the transaction. (Reporting by Davide Barbuscia; Editing by Kirsten Donovan)