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Kuwait's debut international bond attracts $15 billion orders
March 13, 2017, 5:02 pm

Kuwait's dual-tranche international debut bond has attracted order books in excess of $15 billion, a document issued by one of the lead banks showed. The debt sale, expected to price on Monday, is split into five-year and 10-year tranches. Initial price guidance was earlier released in the 100 basis points over US Treasuries area for the five-year tranche and the 120 bps over Treasuries area for the 10-year tranche.

Kuwait has indicated it may issue up to about $10 billion of bonds but has not communicated a firm decision on size. Citi, Deutsche Bank, HSBC, JP Morgan, NBK Capital, and Standard Chartered Bank are the bookrunners.

Source: Arabian Business

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