KUWAIT CITY: Liquidity Management House, a unit of Kuwait Finance House (KFH) is in the process of issuing $1 billion in Islamic bonds, or sukuk, according to a newspaper report.
“The company is issuing Sukuk with a value up to $1 billion for three projects outside the local market ... with a share of 10 percent, which is equivalent to $100 million,” Chairman Emad Al-Monayea said in remarks published in a press report. (full story)
The issuance will be done through a consortium, he said.
In March, KFH’s Turkish unit said it will launch a $500 million Islamic bond by the end of the year.
In February, KFH missed analysts forecasts as it posted a 29.2 percent drop in its fourth-quarter profits compared with the same period last year.
