SINGAPORE, March 13 (IFR) - The State of Kuwait GVD-KW, acting through the Ministry of Finance, is marketing benchmark US dollar bonds of five and 10 years.
Initial price thoughts are US Treasuries plus 100bp area for the five-year tranche and Treasuries plus 120bp area for the 10-year piece.
Kuwait is rated AA/AA (S&P/Fitch).
Citigroup, HSBC and JP Morgan are joint global coordinators, as well as joint bookrunners with Deutsche Bank, NBK Capital and Standard Chartered.
Pricing for the 144A/Reg S bonds is expected today. (Reporting by Daniel Stanton; editing by Dharsan Singh)