NBK redempts the 125 million dinars of bonds, which are redeemable...

According to the IPO prospectus dated November 18, 2015 (the “prospectus”), the National Bank of Kuwait (referred to as “National Bank of Kuwait” or the “Issuer”) issued bonds worth 125 million dinars, maturing on November 18, 2025 (the “issuance”) which consisted of Of fixed interest rate bonds of 62.5 million dinars and variable rate bonds of 62.5 million dinars (both types of bonds are referred to as “bonds”).

According to Article 4 (d) “Redemption Option” (referred to as “Redemption Option”) of the terms and conditions attached to the bonds (“Terms and Conditions”) and mentioned in the prospectus, the National Bank of Kuwait – after obtaining prior approval from the Central Bank of Kuwait- The right to exercise the redemption option, according to which the National Bank of Kuwait may, on any date of payment of interest (defined in the terms and conditions), fall at the end or after a period of 5 years from the date of issuance of the bonds, to redeem all or any part of the bonds according to the terms and conditions, at their nominal value In addition to the interest due on it until (but excluding) the date specified for redemption.

The bank, by virtue of this notice, officially exercises its right under the redemption option.

The issuer decided to fully recover the remaining balance of the bonds (“outstanding bonds”) by exercising the redemption option at their nominal value in addition to the interest due on it. NBK, in its capacity as the financial agent and principal payment agent, calculated the interest due and the amount due for all outstanding bonds. Redemption will be made on the interest payment date, 5 years after the bond issue date, which is November 18, 2020 (“redemption date”).

On October 5, 2020, the Central Bank of Kuwait approval was issued to the National Bank of Kuwait to exercise the redemption option. If any of the bondholders have questions or concerns regarding redemption of the outstanding bonds by NBK exercising the redemption option, please contact the financial agent and the principal payment agent on the phone

+965 2259 3056/2259 3196 or by email [email protected].

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