VOL. XXXIX

No. 19

5-February-1996

KUWAIT

Kuwait's Equate Awards $1.2Bn Loan Mandate To US And Gulf Institutions

The Kuwaiti-US joint venture Equate - owned 45% by the Kuwaiti Petrochemical Industries Company (PIC), 45% by the Union Carbide of the US and 10% by the Kuwaiti private shareholding firm Bubiyan Petrochemical Company (BPC) - has awarded a group of Gulf and American banks and financial institutions a mandate to raise a $1.2bn long-term loan to part-finance the construction of...