Kuwait in favour as plenty of demand drives tight pricing for Equate, Kipco
Plenty of demand enabled Equate Petrochemical to aggressively revise pricing to print a restrained $500m sukuk on Monday from a book that reached $4.2bn before it was reconciled. Kipco followed on Thursday with an equally strong deal.
Equate Petrochemical, a blue chip Kuwaiti company and joint venture between Kuwait and Dow Chemical, made its bond market debut in October with a strongly supported dual tranche $1bn March 2022 and $1.25bn November 2026.
Equate first talked the seven year sukuk at 210bp area over mid-swaps on
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