DUBAI, June 9 (Reuters) - Kuwait's Ahli United Bank
has sold $600 million in Additional Tier 1 Islamic
bonds at 3.875%, a document showed on Wednesday.
Pricing on the bond tightened from an initial price guidance
of around 4.375% after the debt sale attracted more than $1.7
billion in orders, the document from one of banks on the deal
Additional Tier 1 (AT1) bonds are designed to be perpetual
in nature, but issuers can redeem or "call" them after a
specified period. Ahli United Bank's AT1 sukuk will be
non-callable for 5-1/2 years.
Kuwait's Ahli United, nearly three-quarters owned by
Bahrain's Ahli United Bank, hired Citi, HSBC
, Standard Chartered, Abu Dhabi Islamic Bank
, Kamco Invest, KFH Capital and
Kuwait International Bank to arrange the deal.
(Reporting by Yousef Saba; editing by Jason Neely and Jane