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Kuwait's NBK invited to participate in Kuwaiti sovereign bond issue
December 27, 2016 / 11:16 AM / a year ago

Kuwait's NBK invited to participate in Kuwaiti sovereign bond issue

DUBAI, Dec 27 (Reuters) - National Bank of Kuwait (NBK) , the Gulf Arab state’s largest commercial lender, said on Tuesday it 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, the bank said in a bourse statement.

The request is under study, the statement 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. (Reporting by Hadeel Al Sayegh; Editing by Andrew Torchia)

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