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Kuwait’s National Industries Group gets regulatory nod for OMR25m bond

April 19, 2016 6:22 pm


Kuwait’s National Industries Group (NIG) said on Tuesday it had received regulatory approval to raise 25 million dinars ($82.9 million) through a bond sale.

 

The transaction will have a lifespan of five years and pay a floating rate coupon of 2.5 percent over the local benchmark rate, NIG said in a bourse filing.

 

The conglomerate with interests in petrochemicals, oil & gas services, utilities, real estate, financial services and other sectors, did not name the arrangers of the bond sale, or state when the bond would be sold. ($1 = 0.3015 Kuwaiti dinars)

Reuters
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