By Reuters Staff
1 Min Read
DUBAI (Reuters) -Kuwait’s Ahli United Bank has sold $600 million in Additional Tier 1 Islamic bonds at 3.875%, a document showed on Wednesday.
Pricing on the bond tightened from an initial price guidance of around 4.375% after the debt sale attracted more than $1.7 billion in orders, the document from one of banks on the deal showed.
Additional Tier 1 (AT1) bonds are designed to be perpetual in nature, but issuers can redeem or “call” them after a specified period. Ahli United Bank’s AT1 sukuk will be non-callable for 5-1/2 years.
Kuwait’s Ahli United, nearly three-quarters owned by Bahrain’s Ahli United Bank, hired Citi, HSBC, Standard Chartered, Abu Dhabi Islamic Bank, Kamco Invest, KFH Capital and Kuwait International Bank to arrange the deal.
By Reuters Staff
(Adds details)
ROME, June 9 (Reuters) - Foreign investors bought 85.4% of a new 10-year BTP bond issued by Italy, the Treasury said on Wednesday.
Rome sold 10 billion euros ($12.18 billion) of the note on Tuesday through a syndicated deal, attracting orders for almost 68 billion euros.
More than 330 investors took part in the transaction, it said in a statement. They came from about 35 different countries.
Among foreign investors, the most relevant share of the issuance, equal to 80%, was allotted to European investors, in particular to the UK (43.1%). The residual share of the issue, equal to 5.4%, was subscribed by investors from outside Europe, in particular from North America (2.3%) and Asia (3.1%).
Germany plans to extend economic aid for companies hit by the coronavirus pandemic until the end of September, a government source told Reuters on Wednesday.
Bank of England Chief Economist Andy Haldane said there were already "some pretty punchy pressures on prices" and it might at some stage be time to reduce the huge monetary stimulus that was rushed out at the start of the coronavirus crisis.