#Kuwait's Equate Petrochemical to issue bonds as soon as this week -sources - Reuters

Kuwait's Equate Petrochemical to issue bonds as soon as this week -sources - Reuters:

Kuwait’s Equate Petrochemical Co plans to issue U.S. dollar bonds and sukuk as early as Tuesday, four sources familiar with the matter said, reviving a debt issue that it postponed in late March due to volatile markets.

Two of the sources said the issue would consist of five-year sukuk and 10-year conventional bonds in a benchmark issue, of at least $500 million.

In late March, Equate Petrochemical, a joint venture between U.S.-based Dow Chemical Company and a unit of Kuwait Petroleum Corporation, had planned to issue 10- and 30-year dollar-denominated bonds and five-year sukuk. It put off those plans after failing to secure the pricing it sought following huge volatility in the market, sources have said.