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Kufpec mandates lender for $750m loan
- Kuwait: Saturday, February 16 - 2013 at 00:51
Kuwait Foreign Petroleum Exploration Co (Kufpec) has mandated five lenders to arrange a $750m, five-year loan to help fund its general business operations, Reuters has reported, citing three banking sources. Kufpec, which is owned by state oil firm Kuwait Petroleum Co, has a $320m loan which matures in May. The new loan will not refinance this facility, which will be retired when it reaches maturity, one London-based banker said.
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