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BBK repays USD$ 400 million worth of bonds
01-04-2020

BBK B.S.C., a retail and commercial banking pioneer in Bahrain, announced the repayment of its US$ 400 million bond, highlighting its robust financial position and high levels of liquidity. The bond was issued by BBK on 24 March 2015 under its US$ 2 billion Euro Medium Term Note programme.

BBK Group Chief Executive Dr. Abdulrahman Saif said, “BBK is pleased to announce its repayment of these outstanding bonds on time, which highlights its solid financial base and high levels of liquidity. It also reflects the success of the Bank’s conservative approach to risk management, which has helped it maintain a relatively stable financial position and inspires investor confidence.”

Reaffirming the Bank’s commitment to finding innovative ways to invest capital and diversify and strengthen its financing operations, Dr. Saif added, “BBK laid out a strategic growth plan for the three-year period between 2019 and 2021, and we are well on our way to achieving some of our most important goals to strengthen the bank’s reputation at a local, regional and international level. These achievements are especially remarkable in our current economic climate where the coronavirus outbreak has created unstable market and political conditions.”

It should be noted that BBK issued a new 5-year bond in July 2019 following a successful five-day roadshow conducted in Singapore, Hong Kong, Dubai and London. The new bond raised US$500 million paying a coupon of 5.5% with a maturity date of 9th July 2024.



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