Burgan Bank K.P.S.C. successfully redeemed its KD 100 million Subordinated Tier 2 bonds due 9 March 2026 (bonds), in accordance with the terms and conditions of their issuance. The terms and conditions of the bonds’ issuance stipulate that Burgan Bank may exercise a call option to redeem the bonds five years from the date of their issuance or on any interest payment date thereafter. The fixed and floating-rate tranches of the redeemed bonds carried coupon rates of 6.00% and 3.95% plus CBK Discount Rate, respectively. The redemption came after a ...