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Burgan Bank bond price guidance set at 8.25 pct – lead

Burgan Bank is looking to raise at least $300 million through the sale-says official.

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September 22, 2010 11:09 by



The price guidance for Kuwaiti lender Burgan Bank’s 10-year bond issue is seen at 8.25 percent, a lead manager said on Wednesday.

Burgan Bank is the commercial banking arm of Kuwait Projects Co (KIPCO) , the country’s largest investment company by assets, which priced a $500 million 10-year bond in July at 9.5 percent.

The size of the issue is still undetermined but a senior executive at KIPCO said earlier this week that Burgan Bank is looking to raise at least $300 million through the sale.

(Reporting by Eman Goma; Editing by Dinesh Nair)



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