Kuwait-Mubasher: Kuwait Projects Holding (KIPCO) has finalised the issuance of $500 million (KWD 150.54 million) seven-year bonds, according to a bourse statement.
The bonds, listed on London Stock Exchange, come as part of a $3 billion programme for euro medium-term notes (EMTN), with a fixed interest rate of 5%.
The issuance is expected to have a positive impact on the company’s financial position, decreasing the financing expenses by $20 million (KWD 6 million) annually, the company noted.
KIPCO stock did not witness any trades until an hour after Thursday’s session started.
