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KIPCO says no imminent issuance plans after upgrading bond programme

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Kuwait Projects Company (KIPCO) updated its bond programme last week, which will allow the company to issue bonds worth up to $3 billion.

Monday 27, May 2019 BY KUDAKWASHE MUZORIWA

KIPCO’s Director, Group Financial Control said that the Gulf state's largest listed investment company has no imminent plans to issue US dollar-denominated bonds but will keep monitoring the market closely.

The company hired HSBC as arranger and dealer for the programme, with other dealers including Emirates NBD Capital, First Abu Dhabi Bank as well as JPMorgan, KAMCO Investment Company and MUFG.

KIPCO has three international bonds outstanding, each amounting to $500 million and maturing in 2020, 2023 and 2027, reported Reuters.

TAGS : KIPCO, US dollar-denominated bond, Emirates NBD Capital, First Abu Dhabi Bank, JPMorgan, KAMCO Investment Company, MUFG

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