Kuwait—Dentons advised the Joint Lead Managers on National Bank of Kuwait's issuance of US$700 million Perpetual Tier 1 Capital Securities, completed on 9 April 2015. The Capital Securities were listed on the Irish Stock Exchange and were offered to sophisticated investors.

HSBC and Standard Chartered Bank acted as Global Coordinators, and together with Citigroup, National Bank of Abu Dhabi and NBK Capital, as Joint Lead Managers, on the issuance of the Capital Securities. Union National Bank acted as Co-Lead Manager on the transaction.

Dentons Capital Markets Partner, Alex Roussos, commented, "We are proud of our involvement in this very significant transaction for the bank and the region as a whole. The strong momentum that we have seen in our markets in respect of Basel III-compliant instruments in recent months continues apace, which is evidence of the proactive management by financial institutions of their capital base. And regulators continue to show significant willingness to support these efforts".

The Dentons team was led by Alex Roussos working with Senior Associate Beene Ndulo and Associate Katie Phillips.