Kuwait has successfully raised $3.25 billion through an international bond issuance dated October 19, the finance ministry announced Tuesday. The two-tranche offering comprised $2.25 billion in three-year bonds priced at 75 basis points above US Treasury yields, and $1 billion in 10-year bonds at 105 basis points above US Treasury yields.
Finance Minister Yaqoub Al-Refai stated the issuance reflected international investors’ confidence in Kuwait and the strength of its economic and financial fundamentals. Investor demand significantly exceeded supply, with total orders reaching $9.1 billion—approximately 2.8 times the issuance size.
Allocations were distributed among asset managers (39 percent), banks (31 percent), institutions and central banks (15 percent), hedge funds (8 percent), insurance and pension funds (6 percent), and other investors (1 percent). Geographically, the United Kingdom and Europe received 36 percent, the Americas 23 percent, the Middle East and North Africa 19 percent, Asia 12 percent, and other international markets 10 percent.
Source: Kuwait Times
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