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The Debt Capital Markets team acted as Joint Lead Manager for three Kuwaiti issuers worth USD1.15bn. These issuances include the first Perpetual Additional Tier 1 Capital Bond issuance denominated in Kuwaiti Dinar by a bank, which is also considered to be amongst the largest Kuwaiti Dinar issuances in the sector and a landmark achievement for the local debt market. Leveraging on its strong regional presence and wide network of investors, the team also managed six regional issuances, three in UAE worth USD1.4bn, two in Saudi Arabia worth USD1.15bn, and one in Bahrain worth USD500mn.

Since launching its debt capital markets platform, Kamco Invest has played a key role in managing over USD20.2bn through conventional and Islamic debt issuances. This achievement highlights the Company’s position as a trusted debt advisor in the region, assisting clients in navigating the complexities of issuing debt capital instruments including bonds and sukuks with tailored solutions to meet their diverse requirements. 

The GCC debt capital markets witnessed significant growth in 2024, with total bond and sukuk issuances reaching USD184.9bn during the year, a 59.1% increase compared to USD116.2bn in 2023. This surge was driven by higher corporate issuances, which rose by 51.6% to USD107.6bn, and government issuances, which grew by 71.1% to USD77.3bn. Saudi Arabia emerged as the largest issuer in the region, with USD85.1bn in issuances, dethroning the UAE, which recorded USD61.6bn. Additionally, perpetual instruments saw renewed momentum, more than doubling to USD10.7bn, with Saudi issuers leading this category. 

Abdullah M. AlSharekh, Managing Director of Markets and Investment Banking, said, “We are proud to continue building our track record while setting new record highs in terms of value of completed transactions. Our strategic focus on fostering long-term partnerships and delivering innovative financing solutions and our involvement in a growing number of regional issuances have further solidified Kamco Invest’s position as a key player in the region’s debt capital markets.”

Kamco Invest’s ability to adapt to the evolving regulatory and economic environment in the GCC has allowed it to provide innovative solutions that cater to a diverse range of issuers across different sectors. Through aligning its offerings with regional development and investor demand, the Company has consistently delivered on promises to its clients and contributed to the growth across debt capital markets.

Executive Director of Debt Capital Markets, Omar Zaineddine, said, “Our Debt Capital Markets team is dedicated to delivering solutions that meet the evolving needs of local and regional issuers, which simultaneously plays a contributing role in the development of the region’s capital markets. Throughout our years of experience and solid track record, we managed to develop an efficient platform that assists clients and investors in achieving their goals by building longstanding relationships and staying attuned to market dynamics. As the market continues to grow, we look forward to exploring new debt opportunities and contribute to developing the financial landscape in Kuwait and across the region.” 

Alsharekh concluded, “As the GCC’s debt markets continue to expand, now approaching the USD1tr mark with a significant portion in sukuk, we will continue to leverage our expertise and relationships to further navigate this dynamic landscape and contribute to the region’s economic growth.”

The Investment Banking division at Kamco Invest successfully completed 11 transactions in 2024 valued at USD4.9bn. In addition to the nine debt issuances, the transactions included executing the largest mandatory tender offer in Kuwait’s insurance sector and the Initial Public Offering of an Omani sovereign-owned oil company. Since inception, Kamco Invest has acted as an investment banker to deals exceeding USD41.2bn in equity capital markets, debt capital markets and mergers & acquisitions.