Latest news with #ZaidAlSager
Zawya
20-07-2025
- Business
- Zawya
NBK marks milestone with $800mln additional Tier 1 Bond listing on the London Stock Exchange
The listing underscores NBK's deep-rooted relationship with one of the world's most prominent stock exchanges Robust investor appetite reflects global confidence in NBK's strong credit fundamentals and regional leadership National Bank of Kuwait (NBK) celebrated the listing of its US$800 million Additional Tier 1 bond on the London Stock Exchange. This milestone highlights the Bank's strong and growing presence in global capital markets and reaffirms NBK's expansive global footprint, with a branch network spanning four continents across 13 countries. Among its key international markets, London holds strategic importance through National Bank of Kuwait (International) PLC (NBK - London), which delivers a full spectrum of banking products and services to its clientele. The listing ceremony took place at the London Stock Exchange—one of the world's leading financial marketplaces—with the participation of senior executives from NBK and NBKI (NBK-London), Leading the occasion were Mr. Zaid Al-Sager, Deputy CEO – International Banking Group at NBK; Mr. Meshari Bin Salamah, EVP - Global Head of Corporate Banking and Commercial Real Estate and Mr. Bassem Boustany, Managing Director of National Bank of Kuwait, London (NBK International) and Mr. Abdul Amir Fadel EVP - Global Head of Consumer Banking – IBG. The event underscores the Bank's strategic commitment to diversifying its funding base and reinforcing its footprint across international capital markets. The listing of the bonds on the London Stock Exchange reinforces NBK's ongoing commitment to deepening its long-standing relationships with leading global exchanges. It also reflects the growing confidence in the Bank's robust credit profile, as demonstrated by the consistently strong demand for its debt issuances across international markets. The successful issuance and listing of the bonds on the London Stock Exchange underscores NBK's leadership in the regional banking landscape and reflects its strategic vision for global expansion. It is a testament to the Bank's long-standing legacy of excellence, innovation, and prudent growth. This issuance marks the Bank's largest to date under this tranche, driven by robust investor demand that enabled an upsizing beyond initial expectations. Following a brief pause in GCC bond activity within the first tranche of additional capital—after a wave of issuances in May—NBK's transaction drew robust interest from a globally diversified investor base. Investor appetite for the issuance was exceptionally strong, with subscription orders reaching US$2.2 billion, representing a 2.75x oversubscription rate. Demand was driven by a broad and diversified base of global investors and financial institutions, with private banking platforms playing a pivotal role in the placement process. The results underscore investor confidence in NBK's robust credit profile and reaffirm Kuwait's standing as an appealing investment destination. MENA-based investors represented the largest share of the allocation, accounting for 47% of total demand, followed by investors from the United Kingdom at 19%, the United States at 18%, Europe at 13%, and Asia at 3%. By investor type, asset managers and investment funds accounted for 48% of total demand, followed by banks and private banking services at 44%, while sovereign entities, insurance companies, and pension funds represented the remaining 8% of total subscription applications. Robust investor demand enabled NBK to achieve highly favorable pricing for the issuance, with the final yield set at 6.375% (% (equivalent to UST+240.3bps), representing a 50 basis point tightening from the initial price thoughts (IPTs) of 6.875%. The investment-grade credit rating of the issuance, including a Baa3 rating from Moody's, further enhanced its appeal—driving strong interest from international private banking platforms and global asset managers. Citigroup, J.P. Morgan, HSBC, and Standard Chartered acted as Global Coordinators for the issuance, while the Joint Lead Managers included Citigroup, J.P. Morgan, HSBC, Standard Chartered, First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, KAMCO Investment Company, and National Bank of Kuwait.
Zawya
21-05-2025
- Business
- Zawya
Zaid Al-Sager shares key insights at the Bonds, Loans & Sukuk - Middle East Conference in Dubai
The National Bank of Kuwait (NBK) was a Silver Sponsor and participated in a senior panel discussion at the Bonds, Loans & Sukuk Middle East Conference 2025, held on May 20-21 at the Madinat Jumeirah Conference Centre in Dubai. The event brought together senior finance leaders from both regional and international financial institutions to examine the shifting landscape of the syndicated loan markets in the Middle East, with particular attention to pricing developments, sustainability considerations, and heightened competitive dynamics. Mr. Zaid Al-Sager, Deputy CEO of the International Banking Group at NBK, joined an expert panel of global financial leaders to examine the critical factors shaping syndicated lending activity in 2025. The panel began with a market pulse survey to gauge expectations for the rest of the year. Sentiment was largely cautious due to the current macroeconomic headwinds and geopolitical uncertainty, both of which have continued to weigh in on deal volumes. The conversation, however, quickly transitioned toward addressing practical solutions, including strategic positioning and adaptability to the current environment. Panelists observed that over the past year, the syndicated loan markets have contended with higher liquidity among financial institutions that has resulted in margin compression, which has led regional lenders with a footprint in Europe and the US to search for higher yields in those markets that supports bolstering their P&Ls. Meanwhile, borrowers in the region, while facing reducing funding costs over the last few quarters, also maintain higher liquidity as a result of de-leveraging post-COVID. As such, much of the syndicated borrowing during the last 12 months has been related to GRE-related entities requiring support on large-scale infrastructure projects in the region. Another key point of discussion was the growing complexity of competition between regional and international lenders. Despite the continued expansion of global liquidity, particularly from Asia, regional financial institutions retain a competitive advantage in the region given their deep regulatory insight and strong relationships with clients in the region. The panel also explored the integration of ESG principles into syndicated loan structures. Although frameworks remain in development, there is a growing convergence between lenders and borrowers around sustainability-linked targets. These considerations are progressively influencing underwriting standards, as banks align their portfolios with broader responsible finance goals. Currency diversification also emerged as a central topic. Amid ongoing US dollar volatility, borrowers are increasingly exploring alternative funding currencies to better manage exposure and optimize pricing. The conversation further examined the growing role of Islamic finance in loan syndications, supported by structural innovation that is broadening market participation. Looking forward, participants identified several key forces expected to shape the lending environment in 2025, including declining oil prices, the expanding role of private credit, and evolving structures in deal-making. The Bonds, Loans & Sukuk Middle East Conference remains a cornerstone event in the region's financial calendar, providing a platform for industry leaders to engage on capital market developments. Since its inception, the conference has facilitated meaningful dialogue on syndicated finance, ESG integration, and regional competitiveness – particularly in light of the GCC's economic diversification agenda and energy transition goals. NBK's participation reaffirmed its role as a regional leader in syndicated lending and highlighted its commitment to providing tailored financing solutions in an evolving market landscape. In 2024, NBK successfully issued its inaugural USD 500 million green bond, which was oversubscribed more than three times, signaling strong investor confidence in the bank's sustainable finance framework. Furthermore, NBK was recognized by Global Finance Magazine as the 'Best Bank for ESG-Related Loans in the Middle East 2024,' reflecting its ongoing integration of sustainability principles into its lending practices.
