Jointly managed by Kamco Invest and Gulf Bank, the bond comprises of two tranches, a fixed rate and floating rate tranches, with a tenure of 6 years. The KWD 55.15million Fixed Rate tranche offers a coupon of 6.75%, whereas the KWD 109.85 million Floating Rate tranche offers a coupon rate of 3.00% above the Central Bank of Kuwait’s discount rate with a cap of 7.75% per annum. The coupon on both tranches will be paid semi-annually, with first payment commencing end of June 2023.