close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

Kuwait’s KIPCO prices $286M local currency bond

Kuwait’s KIPCO prices $286M local currency bond

KIPCO prices 80 mln dinar 4-yr, two-tranche bond - lead; First local currency bond in Kuwait this year

0

January 15, 2012 2:29 by



Kuwait Projects Co (KIPCO), the Gulf state’s largest investment company, has closed an 80 million dinars ($286 million) bond issue, one of the lead managers said on Sunday.

The offering is the first local currency transaction out of Kuwait this year and consisted of two tranches of four-year paper.

The fixed-rate piece, which made up 60.625 percent of the issue, priced at 4.75 percent, while the floating-rate portion priced at 200 basis points over the Central Bank of Kuwait’s discount rate.

Government funds, banks, corporates and high net-worth individuals were among the investor types who brought into the deal, which was completed after a roadshow process lasting two weeks, the source added.

KIPCO Asset Management, a unit of KIPCO, and NBK Capital were lead managers on the issue.

A source told Reuters in July that KIPCO was looking to issue a dinar-denominated bond, subject to regulatory approval – while a statement from the Capital Standards rating agency said the firm was looking to issue paper with a 3-7 year maturity worth up to 80 million dinars.

Last month, Commercial Facilities Company, a consumer credit firm, priced a 50 million dinar four-year amortising floating rate bond priced at par at a spread of 140 basis points over the CBK’s discount rate. ($1 = 0.2796 Kuwaiti dinars) (Reporting by David French and Mala Pancholia; Editing by Reed Stevenson)



0

Tags: , ,

Leave a Comment