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KIPCO exercised this option in November 2007.
The bond was taken largely by local investors.
Commenting on the repayment, KIPCO's Executive Vice Chairman, Mr Faisal Al Ayyar, said:
"KIPCO has very prudent financing policies which have served us well over the years. Our proactive approach has extended the average life of our funding and saved us money by reducing our interest costs, as global credit spreads have widened sharply over the last four months. As a consequence of this discipline, we are able to manage our liability profile and meet our maturing obligations."
"KIPCO has been an advocate of both the Kuwaiti and regional bond markets for a long time and we appreciate the support of local investors in our bond issues. We look forward to completing similar deals in the future and KIPCO's investors can continue to have the highest confidence in our ability to lead by example and deliver what we promise."
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Posted by Ehab Al-Abbadi
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