Early price guidance on Kuwait-based Burgan Bank's (BURG.KW) 10-year lower tier II bond issue is in the low 8 percent range, two market sources said on Tuesday.
Burgan Bank is the commercial banking arm of Kuwait Projects Co (KIPCO) (KPRO.KW), the country's largest investment company by assets, which priced a $500 million 10-year bond in July at 9.5 percent. [ID:nWEA8973]
The size of the issue is still undetermined but a senior executive at KIPCO said earlier this week that Burgan Bank is looking to raise at least $300 million."
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