Kuwait is planning to issue U.S. dollar-denominated bonds on Wednesday, according to people familiar with the matter cited by BlockBeats. The country has hired banks including Goldman Sachs Group and Citigroup to arrange a three-part deal with three-year, five-year, and 10-year maturities. Final terms, including the size of the offering and pricing, could be announced later on Wednesday.
The report said Kuwait has come under daily missile and drone attacks from Iran over the past two weeks. It described Kuwait as a key U.S. ally in the Middle East and one of the world’s wealthiest countries due to its large oil reserves. At the same time, the country’s economy has faced heavy strain this year. In April, Goldman Sachs analysts estimated Kuwait’s fiscal deficit had climbed to an annualized level of nearly 40%. The report also said the closure of the Strait of Hormuz forced Kuwait to halt most of its oil exports.
The item was attributed to Jin10.
Kuwait plans to sell U.S. dollar bonds on Wednesday, according to people familiar with the matter cited in a BlockBeats report on July 22.
The country has hired banks including Goldman Sachs Group and Citigroup to arrange a three-part transaction with three-year, five-year, and 10-year maturities. Final terms, including the size of the bond sale and pricing, may be released later on Wednesday.
Over the past two weeks, Kuwait has been hit every day by Iranian missile and drone attacks, the report said. It described Kuwait as an important U.S. ally in the Middle East and one of the world’s richest countries, supported by its large oil reserves.
The same report said Kuwait’s economy has been under heavy pressure this year because Iran has repeatedly carried out air attacks on the country in retaliation for U.S. and Israeli strikes. In April, Goldman Sachs analysts estimated Kuwait’s fiscal deficit had surged to an annualized level of nearly 40%. It also said the closure of the Strait of Hormuz forced Kuwait to stop most of its oil exports.
The report cited Jin10 as the source.
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