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02/10/2025 05:57 AST
Kuwait has returned to international debt markets for the first time in eight years with a $11.25 billion sovereign bond issuance, in what officials hailed as a landmark deal underscoring investor confidence in the Gulf state's financial strength.
The Ministry of Finance said Wednesday the offering was split into three tranches: $3.25 billion in three-year bonds priced at 40 basis points above US Treasuries, $3 billion in five-year bonds at 40 basis points over Treasuries, and $5 billion in 10-year bonds at 50 basis points over Treasuries.
"These spreads are significantly tighter than Kuwait's inaugural sovereign issuance in 2017," the ministry said in a statement, noting the deal drew massive demand with orders reaching $28 billion - 2.5 times the amount offered.
More than two-thirds of allocations went to investors outside the Middle East and North Africa, with 26 percent placed in the United States, 30 percent in Europe and the United Kingdom, and 10 percent in Asia, according to the ministry.
Acting Finance Minister Dr Subaih Al-Mukhaizeem, who also serves as Minister of Electricity, Water and Renewable Energy, described the issuance as "historic," saying it reflected "the global markets' confidence in Kuwait's financial strength, prudent policies, and solid reserves."
He added that the strong demand and competitive pricing "reinforce Kuwait's position as a distinguished sovereign issuer" while supporting the country's long-term development goals under its "New Kuwait 2035" vision.
Officials said the deal ranks among the largest sovereign bond sales worldwide in 2025, securing one of the biggest order books this year and highlighting investor faith in Kuwait's economic fundamentals and reform plans.
The transaction was led by Citi, Goldman Sachs International, HSBC, JPMorgan and Mizuho as joint global coordinators. Bank of China and Industrial and Commercial Bank of China (ICBC) acted as passive joint lead managers.
KUNA
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03/10/2025
Kuwait has earned a new Guinness World Record for the longest distance between a patient and a surgeon.
The record was set after a surgical team at Jaber Al-Ahmad Hospital successfully perf
Trade Arabia
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Qatar's saw a robust year-on-year double-digit jump in ships arrival through Hamad, Doha and Al Ruwais ports in the first nine months (9M) of this year, leading to higher movement of containers, carg
Gulf Times
03/10/2025
Qatar Central Bank (QCB) has issued treasury bills worth QR 400 million with maturities of 7, 28 days, 98 days, 189 days, 273 days, and 364 days.
QCB announced in a post on its social media
QNA
03/10/2025
Minister of Finance HE Ali bin Ahmed Al Kuwari took part in the joint meeting of the Finance Ministers and Central Bank Governorsin the Gulf Cooperation Council (GCC) countries' with HE Managing Dire
QNA
03/10/2025
Dubai has long been a global hub for iconic developments, attracting investors from across the world. Among the new generation of companies driving this momentum is NWH Group , a Dubai-based real est
Khaleej Times
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