LONDON, March 13 (IFR) - Kuwait has announced guidance of 85bp area over Treasuries on a five-year bond and plus 110bp area on a 10-year tranche, according to a lead.
That compares with initial price thoughts of 100bp area over Treasuries on the March 2022 notes and plus 120bp area on the March 2027 bonds.
Combined order books are over US$20bn, including joint-lead managers interest.
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 Sudip Roy, Editing by Helene Durand)