ASB Capital, a purpose-driven asset and wealth management firm with assets under management (AUM) of USD 10.2 billion, announced its appointment as Joint Lead Manager and Bookrunner on Kuwait International Bank’s (KIB) USD 500 million five-year senior unsecured Sukuk issuance.
The transaction attracted investor orders exceeding USD 1 billion, representing over 2 times the issue size. The A-rated Sukuk is listed on the London Stock Exchange’s International Securities Market.
ASB Capital participated in the transaction alongside a syndicate of leading regional and international financial institutions, including Citi, Standard Chartered Bank, QNB Capital, Emirates NBD Capital, KFH Capital, Boubyan Bank, KIB Invest, Sharjah Islamic Bank, Warba Bank, Bank ABC, and Arab Bank.
The mandate marks ASB Capital’s second appointment by Kuwait International Bank in less than twelve months, following its role on the bank’s USD 300 million Tier 2 Sukuk in October 2025. This senior unsecured mandate follows four consecutive GCC AT1 Sukuk appointments, extending ASB Capital’s demonstrated capabilities across senior unsecured, Tier 2, and AT1 instruments.
The repeat mandate further strengthens ASB Capital’s presence in Kuwait, where it has participated in capital markets transactions for Kuwait Finance House and Kuwait International Bank. It also reflects the continued development of the Group’s regional investment banking platform, supported by Al Salam Bank’s balance sheet and treasury capabilities.
Commenting on the transaction, Hussain Abdulaq, Chief Treasury Officer at Al Salam Bank, said: “The continued confidence shown by leading regional issuers is an important endorsement of the Group’s investment banking platform. ASB Capital’s second mandate for Kuwait International Bank demonstrates the breadth of the platform we are building and its ability to support issuers across their capital and funding objectives.”
Hichem Djouhri, Senior Executive Officer of ASB Capital, added: “We are pleased to support Kuwait International Bank again following our participation in its Tier 2 Sukuk issuance in 2025. The strong investor demand for this transaction reflects sustained appetite for well-positioned GCC financial institutions. This repeat mandate reinforces our focus on disciplined execution, long-term issuer relationships, and connecting regional institutions with a broad international investor base.”
This latest mandate extends ASB Capital’s growing track record of debt capital markets transactions across the GCC, including issuances by Kuwait Finance House, Kuwait International Bank, Bapco Energies, Solidarity Bahrain, Al Salam Bank, Alinma Bank, Dubai Islamic Bank, Bank AlJazira, Ajman Bank, and Saudi Real Estate Refinance Company. The firm continues to expand its capital markets and investment banking activities alongside its broader asset management and advisory platform.
