NBK & SG jointly managed the largest bond issue in Kuwait: KD 60 million issued by the Commercial Bank of Kuwait

The Bonds will mature in three years and are issued in three equal tranches of KD20,000,000 each.

NBK and SG acted as joint lead managers for this bond issue.

After the signing ceremony, Mr. Dabdoub announced that the bonds had been marketed to financial institutions, commercial companies, as well as individuals, and had attracted significant demand from all types of investors. He stated that the bond issue was over subscribed, demonstrating NBK's strength in selling such securities into the market place.

Mr. Al-Mutawa said that this is the largest KD denominated bond issue in Kuwait. He further added that it is the third bond issuance by the Commercial Bank of Kuwait, and that the proceeds will be used for working capital and other general corporate purposes. Mr. Al-Mutawa was pleased about CBK's co-operation with both NBK and SG, illustrating their unrivaled efforts to underwrite, manage and market the bonds with high efficiency.

Mr. Al-Moussa stated that joining forces with NBK to underwrite the largest bond issue in Kuwait was very successful. He was pleased with the high demand from investors, which reflected the strong financial position of CBK and the trust in CBK management.

Also present at the signing from NBK was Mr. Isam Al-Sager, Deputy CEO, Mr. George Nasra - General Manager, Investment Banking, Asset Management & Treasury Group, and Ms. Shaikha Al-Bahar, General Manager, Corporate Banking Group.

Also represented by Commercial Bank of Kuwait was Mr. Mohamed Saleem Malik, Area Manager-Financial Institutions and Ms. Cynthia Abdul Elah, Area Manager, Financial Institutions.