Dubai-based investment banking and asset management firm serves as joint lead manager for Kuwait Finance House's $850 million tier-one notes, following strong year.
The latest issuance with KFH builds on ASB Capital’s strong capital markets track record, having worked on five major mandates in the past year: as Joint Lead Manager for Alinma Bank’s $500 million Tier 2 Sukuk, KIB’s $300mn Sukuk, Bapco Energies’ $ 1 billion Sukuk, and advising on Al Salam Bank’s $450 million Additional Tier 1 (AT1) issuance.
ASB Capital has broadly expanded its presence across the GCC since its founding only a couple years ago, and now plays roles in origination, structuring, and advisory across a wide mix of sectors, in addition to managing ca. $6 billion in assets.
The mandate comes at a time when the region's issuers continue to utilize Sukuk as a preferred tool for diversifying funding sources and to engage with an increasingly global investor base, with the support of both Western financial institutions' participation and local experts like ASB.
The firm also partnered DWS Xtrackers for its first Sukuk ETF, which listed on the LSE in London in November.
“We continue to see healthy growth in the Sukuk market, supported by solid demand and issuers who are taking a forward-looking approach to long-term funding," Rafik Nayed, Managing Director of ASB Capital, commented. "The KFH mandate builds on the momentum we are observing and reinforces the importance of well-structured instruments in supporting sustainable financing strategies. As ASB Capital continues to deepen its involvement across the region, this transaction reaffirms our position as an active and impactful participant in capital markets.”
