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KIPCO Equity Investor Presentation
Kuwait City, January 16th, 2012:
KIPCO - the Kuwait Projects Company - has announced the completion of a KD 80 million (US$ 290 million) bond issue, the largest ever by a corporate in Kuwait.
The four-year bonds were issued in fixed and floating rate tranches. At close, the fixed rate bond attracted 61% of the transaction allocation and the floating rate bond 39%. The fixed rate bond pays investors a coupon of 4.75% annually. The floating rate bond pays investors a coupon of 2% annually over the declared Central Bank of Kuwait discount rate, with a cap of 1% over the fixed-rate coupon. The bonds were issued at par and will pay coupons quarterly in arrears.
© 2013, Kuwait Projects Company (Holding), Kuwait
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