Sunday 15 January 2012

UPDATE 1-Kuwait's KIPCO prices $286 mln local currency bond - lead | Reuters

Kuwait Projects Co (KIPCO), the Gulf state's largest investment company, has closed an 80 million dinars ($286 million) bond issue, one of the lead managers said on Sunday.

The offering is the first local currency transaction out of Kuwait this year and consisted of two tranches of four-year paper.

The fixed-rate piece, which made up 60.625 percent of the issue, priced at 4.75 percent, while the floating-rate portion priced at 200 basis points over the Central Bank of Kuwait's discount rate.

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