ASB Capital, a purpose-driven asset and wealth management firm with assets under management (AUM) of USD 5.7 billion, has been appointed by Kuwait International Bank (KIB) as Joint Lead Manager and Bookrunner for its USD 300 million Sustainable Tier 2 Sukuk issuance, alongside other prominent financial institutions. The mandate reflects ASB Capital’s growing influence in regional capital markets and its ability to deliver structured, high-impact Sukuk issuances.
Since its launch in 2024, ASB Capital has grown its AUM to USD 5.7 billion and has worked on landmark transactions, including its appointment as Joint Lead Manager and Bookrunner for the issuance of Bapco Energies’ USD 1 billion Sukuk earlier in the year. It also provided dedicated advisory support for the issuance process of Al Salam Bank’s USD 450 million AT1 capital, as well as Solidarity Bahrain’s USD 114 million Tier 2 capital raise. ASB Capital’s expertise extends to include transaction advisory services, exemplified by its sell-side advisory mandate on Al Salam Bank exiting its 15.6% stake in Seef Properties
Commenting on the appointment, Rafik Nayed, Managing Director of ASB Capital, said: “This mandate underscores ASB Capital’s growing credentials in regional capital markets and our ability to deliver structured, high-impact capital market transactions. It reflects the depth of investor appetite and reinforces our position as a trusted partner with proven distribution capabilities.”
ASB Capital’s investment banking offering includes advisory, transaction mandates, capital market solutions, and other bespoke offerings across various asset classes. As part of its Capital Markets offering, ASB Capital provides innovative and tailored financing solutions to meet the evolving needs of clients by leveraging market expertise and strategic partnerships.
