Ahli United Bank Kuwait plans Islamic bond issue

Ahli United Bank Kuwait will hold roadshows in the Gulf, Europe and Asia for fixed income investors starting today ahead of a potential capital-boosting sukuk issue, arranging banks said. The funds would be raised to enhance the Kuwaiti bank’s Tier 1 core capital. The lender, 67.33% owned by Bahrain’s Ahli United Bank according to Thomson Reuters data, will hold a roadshow in the UAE today, followed by meetings on subsequent days in Switzerland and London, before a final day of discussions in Singapore next Monday. Citigroup, Credit Agricole and Credit Suisse will arrange the roadshows and the sukuk issue will follow subject to market conditions.