#Kuwait Petroleum to raise $1 billion revolving loan: sources - Reuters

Kuwait Petroleum to raise $1 billion revolving loan: sources - Reuters:

Kuwait Petroleum Corp (KPC) is finalizing a $1 billion loan with a small group of international banks, three sources familiar with the deal said.

The loan, a revolving credit facility, comes amid a slowdown in the regional loan market, as borrowers have increasingly raised financing through bonds to take advantage of lower rates.

The state-owned oil company, which did not respond to a request for comment, plans to invest hundreds of billions of dollars by 2040 as it aims to boost its crude oil production capacity to 4.75 million barrels per day by that date.