Published on 3/13/2017 in the Prospect News Emerging Markets Daily.
New Issue: Kuwait prices $8 billion in five-, 10-year notes
By Christine Van Dusen
Atlanta, March 13 – Kuwait priced an $8 billion issue of notes in tranches due March 20, 2022 and 2027 (expected ratings: /AA/AA), a syndicate source said.
The $3.5 billion of 2¾% notes due 2022 priced at 99.366 to yield 2.887%.
The $4.5 billion of 3½% notes due 2027 priced at 99.026 to yield 3.617%
JPMorgan, Citigroup, Deutsche Bank, HSBC, NBK Capital and Standard Chartered were the bookrunners for the Rule 144A and Regulation S deal.
| Issuer: | Kuwait
|
| Amount: | $8 billion
|
| Description: | Notes
|
| Bookrunners: | JPMorgan, Citigroup, Deutsche Bank, HSBC, NBK Capital, Standard Chartered
|
| Trade date: | March 13
|
| Settlement date: | March 20
|
| Expected ratings: S&P: AA
|
| Fitch: AA
|
| Distribution: | Rule 144A/Regulation S
|
|
|
| Five-year notes
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| Amount: | $3.5 billion
|
| Maturity: | March 20, 2022
|
| Coupon: | 2¾%
|
| Price: | 99.366
|
| Yield: | 2.887%
|
|
|
| Ten-year notes
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| Amount: | $4.5 billion
|
| Maturity: | March 20, 2027
|
| Coupon: | 3½%
|
| Price: | 99.026
|
| Yield: | 3.617%
|
|
|
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