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Burgan Bank to raise $354m to boost capital
- Kuwait: Thursday, November 22 - 2012 at 04:38
Kuwait's third-biggest lender by assets, Burgan Bank, has unveiled plans to raise KD100m ($354m) from a bond sale this year to boost capital as it expands, Bloomberg has reported. The lender expects to get central bank approval for the sale in the next few days and has appointed Kipco Asset Management Co (KAMCO) as an adviser, said Burgan's CEO, Eduardo Eguren. "Hopefully it will be issued before year-end, we are moving quickly. I have no doubt that we will have oversubscription," he said.
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