Kuwait

Kuwait Projects Company (Kipco) printed the first CEEMEA corporate of the year on Tuesday but the solid international book could not prevent some softness in secondaries the next day.

Kuwait Projects Company (Kipco) was on track to print 2016's first corporate bond from CEEMEA on Tuesday as Turkish conglomerate Koc Holdings also said it would issue a seven year bond.

As Kuwaiti petrochemicals company Equate decides how to refinance its $6bn bridge loan, the borrower will likely avoid the bond market and stick to loans in the near future, bankers told GlobalCapital.

Kuwait National Petroleum Company is in talks for $10bn of loans which have been in the pipeline for almost a year, although syndication has not taken off yet.

Kuwaiti petrochemicals firm Equate has signed $6bn of loans, with a range of lenders from different regions joining the five underwriting banks.

Kuwaiti logistics firm Agility Public Warehousing Company is arranging its first loan since 2008, according to bankers.

Kuwait’s Burgan Bank is wrapping up a year of busy financing activity from Middle Eastern banks. It completed a $350m loan on Wednesday, increased from $300m.

Kuwait petrochemicals firm Equate has delayed signing $6bn of loans until next week because the firm’s board members are still waiting on approvals, said bankers.

Kuwait petrochemical firm Equate is scheduled to complete its $6bn loan this week, while Oman and Qatar continue syndicating their sovereign loans.

Kuwait petrochemicals firm Equate is scheduled to complete syndication of $6bn of loans this week.

The fate of three Middle East mandates this week spoke volumes about the state of that market, as issuers chase dwindling liquidity into the last weeks of 2016.

Kuwait petrochemicals firm Equate is due to close a $6bn one year loan by early December that will include an Islamic financing component.