Mandated lead managers in the syndication are Arab Bank of Bahrain, HSBC Bank, and The Arab Investment Company of Bahrain.
The term loan, expected to attract regional and international attention, will complement the depth and quality of KIPCO's institutional lending base, extend the maturity profile of its liabilities, enhance the currency profile of assets, and reduce costs.
KIPCO, with more than US$ 10 billion under management or control, has a portfolio of 70 companies and its shares are the most actively traded on the Kuwait Stock Exchange. Core operating companies are investment banking subsidiary United Gulf Bank (UGB); Gulf Insurance Company (GIC), a regional leader in commercial and personal insurance; Burgan Bank, Kuwait's leading technology-driven commercial bank; fast-growing regional mobile telephone services provider Wataniya Telecom; and Showtime, the hugely-popular digital pay-TV service spanning the Middle East and North Africa.
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KIPCO to debut on loan market with USD 60 million three-year syndicated term loan
- Kuwait: Tuesday, November 30 - 2004 at 14:32
- PRESS RELEASE
Kuwait Projects Company (KIPCO), Kuwait's largest private sector company with major activities in finance, media & telecommunications, real estate and industry throughout the Middle East and North Africa, is making its debut in the international loan market with arrangement of a USD 60 million three-year term syndicated loan.
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Log in to request more information from Kuwait Projects Co (KIPCO)
Notes and media contacts
For Further Information:Ahmad Al Ajeel
Vice President
Marketing/ R&D/ PR
KIPCO
+965 244 0853
Robin Wilson
Senior Consultant
Hill & Knowlton
+965 635 69 69
Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, November 30 - 2004 at 14:32 UAE local time (GMT+4)
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