Mubasher: Kuwait Projects Holding (KIPCO) announced that the Capital Markets Authority (CMA) has approved the prospectus for issuing and promoting bonds at a value not exceeding KWD 100 million ($330 million).
The bonds will be matured in five years through two tiers, fixed and floating, according to a bourse disclosure on Monday.
KIPCO noted that the value of these bonds will be used in financing the company’s general business.
KAMCO Investment and the Gulf Bank of Kuwait (GBK) will be lead managers of issuing these bonds.
It is noteworthy that KIPCO has a capital of KWD 154.73 million, distributed on 1.55 billion shares.
