New bond issue: KIPCO issued international bonds for USD 500.0m maturing in 2027 with a 4.5% coupon.

February 17, 2017 - Cbonds

 

KIPCO issued international bonds for USD 500.0m maturing in 2027 with a 4.5% coupon. Bonds were sold at a price of 100% with an initial yield of 4.5%. Bookrunner: Citigroup, HSBC, JP Morgan, KAMCO.
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Issuer, issue numberKuwait Projects Company Holding (KIPCO), 4.5% 23feb2027, USD
Type of debt instrumentInternational bonds
Issue statusoutstanding
Type of placementPublic
Par, currency of issueUSD 200,000
Amount500,000,000
ISINXS1567906059
End of placement02/16/2017
Initial issue price100
Yield at pricing4.5
Coupon4.5%
Coupon frequency2 time(s) per year
Settlement date02/23/2017
Maturity date02/23/2027
Issue ManagersBookrunner: Citigroup, HSBC, JP Morgan, KAMCO Paying agent: BNY Mellon Trustee: BNY Mellon Corporate Trustee Services Issuer Legal Adviser (International law): Allen & Overy Arranger Legal Adviser (Domestic law): Al Ruwayeh & Partners (ASAR), The Law Office of Bader Saud Al-Bader and Partners Arranger Legal Adviser (International law): Clifford Chance, Allen & Overy
Trading floorLondon S.E.
Issuer: Kuwait Projects Company Holding (KIPCO)
Issuer profile:
Kuwait Projects Company (Holding), popularly known as KIPCO, is one of the premier investment holding companies in the Middle East and North Africa (MENA) region. KIPCO has substantial ownership inte... more
Outstanding issues:
4 issuesUSD2,000,000,000
Issuer rating:
Moody's Investors ServiceBaa3/LT- foreign currency09/15/2014
Moody's Investors ServiceBaa3/LT- local currency09/15/2014
S&P Global RatingsBBB-/StableForeign Currency LT03/30/2010
S&P Global RatingsBBB-/StableLocal Currency LT03/30/2010