IFR-Kuwait's KIPCO sets guidance on up to $500 mln bond
LONDON, Jan 29 (IFR) - Kuwait Projects Company (Kipco) has set official price guidance on its upcoming issue of a five-year bond, which is expected to have a size of between $400 million and $500 million.
Order books for the issue have reached over $2.25 billion and will close at 1130 GMT, according to a document from lead managers.
Official yield guidance of the 5 percent area (+/-12.5 basis points) has been set, with the transaction set to launch and price later on Wednesday.
BNP Paribas, HSBC and JP Morgan are the lead managers on the transaction.
The company is rated Baa3/BBB- by Moody's/S&P. (Reporting by Davide Scigliuzzo)