KIPCO - the Kuwait Projects Company - announced today that it has repaid its debut $ 350 million five-year bond issued under its $2 billion Euro Medium Term Note (EMTN) bond programme.
KIPCO’s EMTN programme was launched on 12th April, 2006. The issue — listed on the London Stock Exchange — was the first by a private sector corporate from the Middle East. The programme offered international investors their first opportunity to diversify from the US dollar Floating Rate Notes usually offered by banks in the Gulf region at that time.
Since the debut issue under the EMTN programme in April 2006, KIPCO has been a frequent and successful bond issuer, gradually extending the term of its issues.
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