VOL. XLVI

No 18

05-May-2003

KUWAIT

KIPCO $46.8Mn Bond Issue Oversubscribed

Kuwait Projects Company (Holding) (KIPCO) has successfully placed KD14mn ($46.8mn) of corporate bonds with a range of Kuwait investors through an oversubscribed issue. The transaction has been structured using KIBOR (Kuwait Inter-Bank Offer Rate) as the benchmark for setting the interest rate rather than the Central Bank of Kuwait discount rate, a move more in line with international capital markets practice. The three-year...