Kuwait Projects Company (KIPCO), Kuwait’s largest private sector company with major activities in finance, media & telecommunications, real estate and industry throughout the Middle East and North Africa, is making its debut in the international loan market with arrangement of a US$ 60 million three-year term syndicated loan.
Mandated lead managers in the syndication are Arab Bank of Bahrain, HSBC Bank, and The Arab Investment Company of Bahrain.
The term loan, expected to attract regional and international attention, will complement the depth and quality of KIPCO’s institutional lending base, extend the maturity profile of its liabilities, enhance the currency profile of assets, and reduce costs.
KIPCO, with more than US$ 10 billion under management or control, has a portfolio of 70 companies and its shares are the most actively traded on the Kuwait Stock Exchange. Core operating companies are investment banking subsidiary United Gulf Bank (UGB); Gulf Insurance Company (GIC), a regional leader in commercial and personal insurance; Burgan Bank, Kuwait’s leading technology-driven commercial bank; fast-growing regional mobile telephone services provider Wataniya Telecom; and Showtime, the hugely-popular digital pay-TV service spanning the Middle East and North Africa.
