CMA approves GIG prospectus for perpetual Tier 2 bonds

Gulf Insurance Group has obtained Capital Markets Authority approval of the prospectus for a new issue of perpetual debt bonds classified as Tier 2 capital, worth up to KD 100 million. The issue is expected to come in two tranches, fixed and floating rate, priced at a margin over the Central Bank of Kuwait discount rate (currently 3.50%), with Kamco Invest as sole lead manager and structuring adviser. Under the expected timetable, subscription runs from 18 to 29 October 2026, with issuance and the buy-back of the 2021 bonds on 5 November 2026.