Posted on 10/25/2016 10:09:43 AM PDT by TigerLikesRooster
Mon Oct 24, 2016 | 11:25am EDT
Kuwait still looking to issue $9.9 bln international bonds, official says
Oct 24 Kuwait is still considering the issuance of international bonds worth around 3 billion dinars ($9.90 billion), a finance ministry official told Al Arabiya TV on Monday.
Like other Gulf Arab states, Kuwait is turning to debt capital markets to raise money as oil prices remain at less than half their levels two years ago. Qatar in May sold $9 billion of Eurobonds, while Saudi Arabia completed a record-breaking $17.5 billion debut offering last week.
However, sources told Reuters earlier this month Kuwait's planned bond had been postponed until 2017 after authorities decided it was in no rush to raise funds overseas.
Speaking to the television channel on Monday, Finance Ministry Undersecretary Khalifa Hamada said the country's sovereign wealth fund, the Kuwait Investment Authority (KIA), would start to look at the measures that needed to be taken to complete an offering at the end of October.
"We will look at the economic feasibility and the cost on the country for the issuance, as it is very important to take this into consideration," Hamada said
(Excerpt) Read more at reuters.com ...
P!
Must be needing new Ferraris and Rolls Royces...................
The Kuwait Petroleum Clean Fuels refinery projects currently in process are projected to cost $16 Bn. They are apparently going to the markets to finance a little over half that.
Are they still top of the line? It seems that other brands are more popular these days.
Kuwait’s oil reserves are among the largest in the world.
A couple of years ago (before the collapse in oil prices) I saw in the Dubai Mall's valet parking area (which is right in front of the main entrance) a Bugati Veyron Vitesse.I got a picture or two of *that* one.
Well, I don’t keep up with the latest in expensive automotive toys. They are quite a bit above my salary level............B^)
Valet parking?
Who would trust a valet to park that?!?!?!?!........
That’s one where you ask/tell the valet, Where shall I put this for you?
I read somewhere recently that something like 60% of the work force in Saudi Arabia is employed by the government. That kind of situation isn’t going to last no matter how high oil prices are.
They need to start building atomic bombs. Then Obama will give them billions outright
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