Kuwait’s CMA says $2 billion of corporate bonds, sukuk in pipeline
Kuwait’s financial regulator is considering requests from local companies to issue $2 billion worth of conventional bonds and sukuk, the chairman of the Capital Markets Authority, Nayef AlHajraf, said yesterday. The applications are under study for final approval, he said at a conference in Kuwait. He did not specify whether the issues would be in foreign or local currency.
Bond issuance approved by the CMA totals $4 billion since new rules covering debt sales were introduced a year ago, while sukuk stand at $700 million, Hajraf added. He also said the CMA was working on creating regulations for a secondary market to trade bonds and sukuk in Kuwait. —Reuters
KUWAIT: Capital Market Authority’s Chairman Dr Nayef Al-Hajraf speaks during a seminar yesterday. —KUNA