Kuwait-Mubasher: Kuwait Projects Holding (KIPCO) said on Sunday it repaid Kuwaiti Dinar-dominated bonds which were issued in January 2012.
The bonds, which the group says is the largest local issuance by a Kuwaiti corporate, were worth KWD 80 million ($264 million), and had duration of four years.
Furthermore, KIPCO will make a $500 million payment in October to redeem bonds previously issued under a short term Euro securities programme.
The multi-sector holding company noted it will not have to pay any debts in 2017.
The coherent policies set by KIPCO helped in increasing the liquidity to $1 billion by the end of 2015, thus, the company will be able to easily meet its liabilities in 2016, said Group Chief Financial Officer Pinak Maitra.
