By Rebecca Melvin
New York, Oct. 23 – Kuwait Projects Co. SPC Ltd. (Kipco) priced $500 million of 4.229% seven-year notes under an existing $3 billion euro-medium term note program, according to a company news release on Wednesday.
The order book for the dollar deal reached about $3.6 billion. Demand was seen across Hong Kong, Singapore, the UAE and London during roadshow meetings.
The transaction extends the company’s debt maturity profile to 4.7 years from 4.1 years.
Bank ABC, First Abu Dhabi Bank, HSBC, JPMorgan and Kamco Investment will act as managers for the Regulation S deal.
The issuer is a Kuwait City-based public investment holding company for a diverse group of businesses.
| Issuer: | Kuwait Projects Co. SPC Ltd. (Kipco)
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| Amount: | $500 million
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| Maturity: | Seven years
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| Description: | Notes
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| Bookrunners: | Bank ABC, First Abu Dhabi Bank, HSBC, JPMorgan and Kamco Investment
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| Coupon: | 4.229%
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| Distribution: | Regulation S
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