Monday 24 June 2013

Kuwait's United Real Estate raises 60 mln dinars via bond | Reuters

"Kuwait's United Real Estate Co said on Monday it had raised 60 million dinars ($211.9 million) in a bond sale which it would mainly use to refinance existing paper.

The sale of the five-year bonds, which were issued in fixed and floating rate tranches, was oversubscribed by almost 50 percent, the company said in a statement.

One tranche will pay a fixed annual rate of 5.75 percent while the other will pay 3.25 percent over the central bank's discount rate, it said. The bonds will mature in June 2018."

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