VOL. XLV

No 5

4-February-2002

KUWAIT

NBK Launches 3-Year $450MnFloating Rate Issue

Kuwaits largest bank, National Bank of Kuwait (NBK)launched on 26 January a three-year floating rate Eurobond of up to $450mn,lead arranged by Morgan Stanley and JP Morgan having earlier postponed theissue due to market conditions. Moodys Investors Service assigned the issue arating of A2, three notches above the sovereign rating for Kuwait. The bondwill be listed on the Luxembourg Stock Exchange.

A senior executive...