Financial and Banking New


KIC Launches KD Bond Issues

The Kuwait Investment Company (KIC) last week issued KD20mn ($71mn) worth of bonds, lead managed by itself and managed by a group of local financial institutions. The bonds mature in 1992 and carry a 7.5% coupon, and according to a KIC statement are intended to finance the company's investment operations.

KIC is owned by the Kuwaiti Government, which explains its ability to pay an equivalent coupon to Finland and...