Published on 7/28/2014 in the Prospect News Emerging Markets Daily.
New Issue: Kuwait Energy prices $250 million 9˝% notes due 2019 at par
By Christine Van Dusen
Atlanta, July 28 – Kuwait Energy plc priced $250 million five-year notes (B-/B-) at par to yield 9˝% on Friday, a market source said.
BofA Merrill Lynch was the bookrunner for the Regulation S issue.
The proceeds will be used for debt refinancing, capital expenditures and general corporate purposes.
| Issuer: | Kuwait Energy plc
|
| Amount: | $250 million
|
| Maturity: | Aug. 4, 2019
|
| Description: | Senior notes
|
| Bookrunner: | BofA Merrill Lynch
|
| Coupon: | 9˝%
|
| Price: | Par
|
| Yield: | 9˝%
|
| Trade date: | July 25
|
| Settlement date: | Aug. 4
|
| Ratings: | Moody’s: B-
|
| Standard & Poor’s: B-
|
| Distribution: | Regulation S
|
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