Kuwait-based Sultan Center Food Products has completed the issuance of the first KD-denominated convertible in the country with a nominal value of KD9.65 million ($31.4 million). For the transaction, Markaz is the structuring advisor and lead manager.
Kuwait-headquartered supermarket chain The Sultan Center (TSC) has entered into an agreement with the National Bank of Kuwait (NBK) and Al Ahli Bank of Kuwait (ABK) to restructure KD76.6 million ($254 million) of Sultan’s debt.