Reference to the Capital Markets Authority's regulations concerning disclosure of material information and the mechanism of disclosing the same, to Chapter 4, Book (10), Article 4-1-1/2 of the Executive Bylaws issued on 09/11/2015.

 

Date: 19/09/2017

Name of Listed Company: Kuwait International Bank

 
Material Information: Conclusion of a 3- year syndicated finance deal, in compliance with the Islamic Shariah provisions, in favor of ALAFCO for financing the purchase and lease of aircrafts. In its capacity as the Mandate Lead Arranger, the bank participated in this syndicated finance in collaboration with a group of local and regional banks. The bank’s contribution amounted to USD 75 million (equivalent to KD 23 million) that is 25 percent of the total financing which amounts to USD 300 million. It is worth mentioning that this financing is deemed to be one of the day to day business transactions conducted by Kuwait International Bank. 

 
Effect of Material Information on the Company’s Financial Position: This financing will contribute in diversifying the bank’s financing portfolio.