| القيمة الاسمية | الفائدة | |
|---|---|---|
| Fixed-rate tranche | 35 مليون دينار | 6.00% سنوياً |
| Floating-rate tranche | 35 مليون دينار | سعر الخصم + 2.75% (6.25% وفق سعر الخصم الحالي) |
Gulf Insurance Group has completed the issue and settlement of perpetual, subordinated and unsecured Tier 2 capital bonds worth KD 70 million, and has also bought back part of the perpetual bonds it issued in 2021. The group said so in a supplementary disclosure filed with Boursa Kuwait on 8 November 2026. The filing follows its earlier disclosure of 5 November 2026, the date it gave for the material event.
The new bonds come in two tranches: fixed-rate bonds with a nominal value of KD 35 million and floating-rate bonds with a nominal value of KD 35 million. The bonds are perpetual with no set maturity date, and they can first be called after the fifth year.
The fixed tranche pays 6.00% a year, fixed until the first reset date but not including that date. The floating tranche pays the Central Bank of Kuwait discount rate plus a margin of 2.75% a year, equal to 6.25% a year at the current discount rate. It may not exceed the fixed-rate bonds' prevailing rate at that time plus 1.00%.
The group has bought back outstanding bonds issued on 10 November 2021 with a total nominal value of KD 9,850,000. These consist of KD 5,000,000 of fixed-rate bonds (ISIN: KW0DI0190465) and KD 4,850,000 of floating-rate bonds (ISIN: KW0DI0190473).
All remaining outstanding bonds, with a total nominal value of KD 50,150,000, will be redeemed on the first call date of 10 November 2026, as set out in the group's disclosure of 22 October 2026.
The group said its Tier 2 capital bonds total KD 70 million after the new issue. This strengthens its capital base and raises its solvency margin by 5.19%.
