Kuwait’s Kipco sets down new MENA marker
The Middle East’s bond markets took another impressive step forward this week when Kuwait Projects Company became the first private sector company from the region to issue internationally this year.
The $500m seven year transaction, which was launched by lead managers BNP Paribas, Goldman Sachs and JPMorgan on Tuesday, has a coupon of 8.875%, equating to 628.6bp over Treasuries or 608bp over mid-swaps in spread terms.
The company ticked off a list of firsts with the deal but
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