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Equate Petrochemical offering five- and 10-year dollar notes
By Rebecca Melvin
New York, May 12 – Kuwait’s Equate Petrochemical Co. KSCC is offering dollar-denominated senior notes with maturities in five and 10 years, according to a pre-stabilization announcement.
MEGlobal Canada ULC is issuer of the notes, and Equate and the Kuwait Olefins Co. KSCC are guarantors of the paper.
J.P. Morgan Securities plc, Citigroup, MUFG, NBK Capital, FAB, HSBC, Mizuho and SMBC Nikko are also joint bookrunners for the notes.
Equate is 85% owned by Petrochemical Industries Co. and Dow Chemical and produces essential chemical compounds as the largest petrochemical complex in Kuwait.
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