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FINANCIAL NEWS
Kuwait’s KIPCO Co.pays USD 264mn Bond
18 Jan 2016
(MENAFN) Kuwait Projects Company (KIPCO) proclaimed that it has repaid its USD 264mn bond, which the largest regional bond was delivered by a Kuwaiti corporate.
Furthermore, the Co. regularly raises money in the local and global debt markets, and will continue to do so with the intention of expanding its investor and offering the Co. with financial suppleness.
Additionally, KIPCO will repay its USD 500mn bond in Oct 2016, issued under its global bond program and will have no debt repayments to make in 2017.
“Our prudent funding policies have served us well and KIPCO’s liquidity remains strong. We ended 2015 with one billion dollars in cash,” said KIPCO’s Group Financial Officer.
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