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Monday, 13 March 2017

Kuwait Sets Initial Price Guidance for Debut International Bond - Bloomberg

Kuwait Sets Initial Price Guidance for Debut International Bond - Bloomberg:

"Kuwait set the initial price guidance on its debut international dollar bond sale as OPEC’s fifth-biggest producer joins regional governments in raising debt to bridge budget deficits. The Gulf nation may price the five-year debt in the area of 100 basis points above the benchmark midswap rate and the 10-year in the plus 120 basis points area, according to a person familiar with the offering. Final pricing will be set on Monday, the person said, asking not to be identified because the information is private. Kuwait follows Oman in selling debt before the U.S. Federal Reserve meets this week. Policy makers are expected to raise the benchmark interest rate by 25 basis points. The Kuwaiti government said in July it may raise as much as $10 billion from global debt markets. The country is rated AA at S&P Global Ratings, the third-highest investment grade."



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