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Kipco picks banks for $500m bond issue

Kuwait, January 22, 2014

Kuwait Projects Co (Kipco), the Gulf state's largest investment firm by assets, plans to issue up to $500 million worth of medium-term bonds and hired a group of international banks to help arrange the sale, it said on Wednesday.

A statement to the stock exchange gave no details on the timing of the sale which Kipco said was part of an overall $2 billion issuance programme.

A document from lead managers showed that Kipco had hired BNP Paribas, HSBC Holdings and J.P. Morgan Chase  for the sale, the first international bond offering from a Gulf-based institution in 2014.

The firm has hired these banks to arrange the roadshows, which will take place in Asia, the Middle East and Europe starting on January 23.-Reuters

Tags: Kuwait | Kipco | bond |

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