Kuwait's KIPCO extends debt maturities with $331mln bond | ZAWYA MENA Edition:
"Kuwait Projects Co (KIPCO), the Gulf state's largest listed investment company, has completed a 100 million dinar ($331 million) seven-year bond issue, it said on Thursday Corporate bonds in Kuwait are typically shorter-dated issues, but KIPCO said its seven-year bond will leave it without any debt repayments until the middle of 2019. "By issuing these dinar bonds, we have reduced our debt maturity concentration by converting from short-term into longer-term (debt)," said Faisal al-Ayyar, KIPCO's vice chairman. "The funds raised by the bonds will be used to repay existing obligations, stagger our maturities and diversify our investor base." "
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