Demand for Kufpec five year undiminished by delay
Kuwait Foreign Petroleum Co (Kufpec) has signed its long awaited $750m five year loan. A two month delay did nothing to damage to deal, which enjoyed massive oversubscription that led to banks being allocated only half of their commitments.
The company signed the deal on July 18, although at one point lenders had expected the loan to sign in April. Later, bankers had predicted May 18 as the signing date.
There was no delay with syndication but unexpected problems around withholding tax and other documentation issues slowed
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: firstname.lastname@example.org or find out more online here.