LONDON, March 13 (IFR) - Kuwait is expected to raise
US$6-8bn through a dual tranche offering of five and 10-year
notes, according to a lead.
Overall demand for the deal is about US$29bn, including lead
The sovereign has also announced a final spread of 75bp over
Treasuries for the March 2022 bond and plus 100bp for the March
The final spreads compare with guidance of plus 85bp area
and 110bp area respectively. Initial price thoughts were plus
100bp area and plus 120bp area.
The 144A/Reg S deal is today's business. Citigroup, HSBC and
JP Morgan are the global coordinators.
Kuwait is rated AA/AA (S&P/Fitch).
(Reporting by Robert Hogg; editing by Sudip Roy)