Kuwait’s Kufpec taps banks for over $1 billion loan - sources | Reuters

Kuwait’s Kufpec taps banks for over $1 billion loan - sources | Reuters:

"Kuwait Foreign Petroleum Exploration Company (Kufpec), a subsidiary of state-owned Kuwait Petroleum Corporation, is seeking a five-year loan of over $1 billion, banking sources familiar with the mater said. The company has sent a request for proposals to banks for a facility offering an interest margin of less than 100 basis points over the London Interbank Offered Rate (Libor), one of the bankers said. Kufpec, which did not immediately respond to a request for comment, is responsible for exploration, development and production of crude oil and natural gas outside Kuwait."



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