Kuwait’s NBK, KAMCO invited to participate in Kuwaiti sovereign bond issue
National Bank of Kuwait (NBK) , the Gulf Arab state’s largest commercial lender, and investment firm KAMCO said they had been invited by the public debt office at the Kuwaiti ministry of finance to participate in a bond issue by the government.
A request for proposals has been sent to NBK’s subsidiary NBK Capital to help arrange a sovereign U.S. dollar-denominated bond issue, and the deadline to respond is Jan. 5, NBK said in a bourse statement on Tuesday. The request is under study, it added.
Finance Minister Anas al-Saleh said in July that the government planned to sell as much as $10 billion of U.S. dollar-denominated conventional and Islamic bonds in international markets to help plug its budget deficit for the current fiscal year, which will end on March 31.