No. 24



Burgan Banks KD30Mn Bond Issue Oversubscribed

Burgan Bank has confirmed that its KD30mn ($97.4mn) five-year bond issue, which closed on 5 June and carries a 6.75% interest rate, was oversubscribed. The banks Chief General Manager, Rod Goom, confirmed to MEES on 7 June that the bond attracted a lot of appetite and is to be used for general corporate purposes, based on the perception that "now is an opportune time to do some expansion." Mr Goom told MEES that...