Kuwait's KIPCO picks banks ahead of potential dollar bond issue

January 21, 2014 - 11:25:42 am

KUWAIT CITY: Kuwait Projects Co (KIPCO) has chosen three banks to arrange meetings with fixed income investors ahead of a possible dollar-denominated bond issue, a document from lead managers said on Tuesday.

The firm has hired BNP Paribas, HSBC and JP Morgan Chase to arrange the roadshows, which will take place in Asia, the Middle East and Europe starting on Jan. 23.

A dollar-denominated bond issue may follow the roadshows, subject to market conditions, the statement added.

The firm is the first Gulf-based issuer to announce plans for an international bond offering in 2014. (Reuters)