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Kuwait issues $3.25B in bonds
Kuwait raised $3.25 billion from a dual-tranche international bond issuance denominated in dollars; the first tranche was for 3 years worth $2.25 billion with a yield of 5.619%, and the second for 10 years amounting to $1 billion with a yield of 6.198%. Subscription requests totaled $7.8 billion, with settlement expected on October 26 and the bonds to be listed on the London Stock Exchange. The bonds are expected to receive a -AA rating from both Fitch and Standard & Poor's.
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