Kuwait’s Equate Petrochemical Plans to Issue USD Denominated 5 Year Sukuk
March 25, 2020
Email Kuwait based Equate Petrochemical Company (EPC) has planned to issue a USD-denominated, five-year Sukuk, marking possibly the first debt issuance in the Gulf region in over a month.
This Sukuk will be issued along with two other USD-denominated conventional bonds, and is expected to be a three-tranche transaction.
EPC has employed Citibank, JPMorgan, KFH Capital, MUFG and NBK Capital to lead the deal while First Abu Dhabi Bank, HSBC, Mizuho and SMBC Nikko banks are also on the deal. These banks have begun arranging a series of calls with potential global investors leading to the three tranche transactions, which is expected to go through depending on market conditions.
