State of Kuwait (KWGV)

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State of Kuwait (KWGV)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	SSA	PRCD	KWGV	State of Kuwait	$750		1	EMEA	Aug 29, 2024

Tranche #1State of Kuwait

currency

USD

size (m)

750.000

maturity

Sep 5, 2031

type

Fixed

tenor

7.000

call

registration

Reg S Only

benchmark

Tsy

ranking

Sr. Unsecured

moody's

Baa2

s&p

BBB

fitch

size description

re-open/tap

ipt

T+170 a

ipt-pxd

guidance

T+145-150

spread

140

coupon

5.00%

spread set

price

98.99500

yield

5.173%

book size (m)

2,000

peak book (m)

x-covered

2.67

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

2,000

peak book (m)

x-covered

2.67

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

7 yr: Book size: 2000; First Pay: 2025-03-05; Registration: Reg S Only; Comments: USD750m 7yr bmk sukuk snr unsec RegS. Baa2/BBB/NR. GloCo/JBs Citi(B&D)/1ADB(struct)/JPM/Miz/MUFG. JLM KFH/SMBCNikko/Warba. Co-mgr ABChina/DBS/IMI/StCh. IPTs T+170 area, guidance T+145/+150, launch 750m at T+140. UST 4.125% Jul 2031 (5.173%/98.995). FTT tomorrow 8am. Par Call: 3m. Cleanup Call: 75%. CoC: Yes. LEI: 635400Z3EZF2GJPTDR68;

Deal Comments

Sukuk Bond

Guarantor(s)

Kuwait Olefins Co KSCC

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