Please wait...
GulfBase Live Support
- China's Sinopec Signs Joint Venture Agreement with Saudi Aramco Worth $4 Billion
- IMF lowers Oman's GDP growth forecast to 2.3% for 2025
- Bahrain All Share Index, Islamic Index close lower
- Gulf Bank issues its fifth Annual Sustainability Report for 2024
- BRICS ministers meet in Brazil over Trump trade policies
- Continuing excellence and driving innovation key pillars of NBK's success: Shaikha Al-Bahar
- Borouge to boost production capacity to 6.6m tonnes
- Bitcoin surges back above $95,000 as institutional interest & economic uncertainty drive growth
- Qatar Stock Exchange index rises by 12.86 points at start of trading
- World-scale Dukhan solar power plant to become operational by 2029: Al-Kaabi
10/10/2017 14:57 AST
Warba Bank, a Kuwaiti sharia-compliant lender, is syndicating a $250 million debt facility, its first in the syndicated loan market, sources familiar with the matter said on Tuesday.
The financing is Warba's latest fund-raising exercise after its issue in March of $250 million of Tier 1 sukuk, as the lender seeks to boost its capital ratios and improve liquidity buffers.
An executive at the bank was not immediately available for comment.
Moody's on Tuesday affirmed Warba Bank's Baa2 rating and maintained its outlook as stable, citing the "very high probability of government support in case of need". The government of Kuwait has 31 percent direct and indirect ownership in the bank, Moody's said.
Warba has participated as a lender in a number of U.S. dollar-denominated, sharia-compliant transactions in the region this year. These included a $25 million contribution as part of a $236 million Islamic loan to Turkey's Ziraat Participation Bank, $50 million to a $400 million sukuk issue for Dubai's Meraas Holding, and $80 million as part of a $300 million Islamic loan for Kuwait's Aviation Lease and Finance Co.
Warba Bank's profits improved in the first half of 2017, with profit attributable to shareholders up to 2.5 million dinars ($8.3 million) from 455,000 dinars a year earlier, as operating revenues climbed to 16.8 million dinars from 10.1 million dinars.
Reuters
17/10/2017
Fitch Ratings has affirmed Warba Bank's (WB) Long-Term Issuer Default Rating (IDR) at 'A+'; the Outlook is Stable. Fitch has also upgraded the bank's Viability Rating (VR) to 'bb-' from 'b+'.
Press Release
10/10/2017
Moody's Investors Service ("Moody's") has today affirmed the long and short term local and foreign currency deposit ratings of Baa2/Prime-2 respectively of Warba Bank K.S.C.P. (Warba). Moody's also a
Press Release
10/08/2017
Kuwait-based Warba Bank has expanded its international real estate investment programme with the acquisition of a multi-family apartment complex in the US for $17.34 million.
The investmen
Trade Arabia
| Ticker | Price | Volume |
|---|
29/04/2025
China's state-run Sinopec said on Monday it had signed an agreement with a unit of Saudi Aramco to establish a joint venture company aimed at operating ports, transporting crude oil, and providing ot
Asharq Al Awsat
29/04/2025
Gulf Bank has officially released its Fifth Annual Sustainability Report for the year 2024, titled "From Vision to Execution", highlighting the Bank's advancements in sustainability in line with Kuwa
Kuwait Times
29/04/2025
In an interview with CNBC International, Shaikha Al-Bahar, Deputy Group Chief Executive Officer of National Bank of Kuwait (NBK) affirmed the Group's commitment to maintaining excellence and fosterin
Kuwait Times
29/04/2025
Borouge today announced a series of strategic asset expansion projects to accelerate its growth, contributing annually between $165 million and $200 million (AED600 million - AED730 million) in EBITD
Trade Arabia
29/04/2025
Saudi developer Emaar, The Economic City has signed final agreements with four local banks to reschedule SR3.39 billion ($904 million) in existing debt and secure a new credit facility.
In a
Arab News
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia