Dentons advises Boubyan Bank on world's first public fully Basel III-compliant Tier one #Sukuk
Dentons advised #Kuwait's Boubyan Bank on its issuance of $250 million Perpetual Tier one Capital Certificates, which completed on 16 May 2016. The transaction represents the world's first public fully Basel III-compliant Tier one Sukuk, while also being the first ever public Sukuk from a Kuwaiti bank, and the first public Sukuk out of Kuwait since 2007. Standard Chartered Bank, HSBC and Boubyan Capital acted as joint global co-ordinators, together with Emirates NBD Capital, Dubai Islamic Bank, KFH Capital and National Bank of Kuwait as joint lead managers on the issuance of the Capital Certificates. Abu Dhabi Islamic Bank, Ajman Bank and Noor Bank acted as co-managers.
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