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London Stock Exchange celebrates Warba Bank Sustainable Sukuk Issuance

Posted: 30 August 2024

Warba Bank is a pioneering Islamic financial institution in Kuwait, dedicated to delivering innovative Sharia-compliant banking solutions. Today, we proudly mark a significant milestone by listing our US$ 500 million Sustainable Sukuk on the London Stock Exchange. This issuance, rated A by Fitch with a Second Party Opinion (SPO) from sustainable Fitch, demonstrates our unwavering commitment to sustainability and financial resilience.

The overwhelming demand for our Sukuk, with investor orders surpassing US$ 1.8 billion, highlights the strong confidence in Warba Bank's creditworthiness and strategic direction. The funds raised will be allocated to financing or refinancing projects in line with Warba Bank Sustainable Finance Framework, focusing on renewable energy, sustainable water management, and community development projects that support environmental, social, and governance (ESG) criteria.

Quote from Senior Management:
Abdullah Allanqawi, Chief Treasury Officer of Warba Bank, commented: "This Sustainable Sukuk issuance is a strategic step in enhancing our financial framework. It aligns with our commitment to sustainability and reinforces our position as a leader in responsible banking practices. This issuance not only broadens our investor base but also sets a benchmark for future financial instruments in the region."

Advisors and Participants:
We are grateful for the support of our advisors and partners, including HSBC, Standard Chartered Bank (SCB), Clifford Chance, ENBD, and Maples, whose expertise was crucial in the successful completion of this issuance.

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