KuwaitPR.com, Online Press Release from Kuwait
 
Banking & Insurance(Banking & Investments)
Filter PR by
  
ASAR – Al Ruwayeh & Partners acts as Kuwait legal counsel for the State of Kuwait's GMTN Programme and inaugural dual-tranche US$8 billion issuance
ASAR – Al Ruwayeh & Partners acts as Kuwait legal counsel for the State of Kuwait's GMTN Programme and inaugural dual-tranche US$8 billion issuance

Kuwait – 20 March, 2016: ASAR - Al Ruwayeh & Partners (ASAR), Kuwait’s leading and most prominent corporate law firm, and one of the region’s top tier law firms, is pleased to have acted as Kuwait law counsel to the State of Kuwait, acting through the Ministry of Finance and represented by the Kuwait Investment Authority, on the establishment of its Global Medium Term Note (GMTN) Programme and Kuwait's inaugural dual-tranche, US dollar-denominated international debt capital markets issuance thereunder. 

The Notes were issued on 20 March 2017 and were comprised of US$3.5bn 2.75 per cent. Notes due 2022 and US$4.5bn 3.50 per cent. Notes due 2027. The Notes were offered and sold in reliance on Rule 144A and Regulation S and were admitted to trading on the Irish Stock Exchange and the London Stock Exchange. Proceeds from the issuance will be utilized for Kuwait’s expected funding needs for this fiscal year. 

Citigroup Global Markets Limited, HSBC Bank plc and J.P. Morgan Securities plc acted as the arrangers and joint lead managers, while Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, HSBC Bank plc, J.P. Morgan Securities plc, Standard Chartered Bank and Watani Investment Co. KSCC (NBK Capital) acted as dealers. Clifford Chance LLP advised the State of Kuwait as to English law and United States law.

Mr. Ibrahim Sattout – Partner at ASAR noted that: “We are delighted to have been involved in the establishment of Kuwait’s GMTN Programme and its dual-tranche inaugural issuance thereunder. We have a long and established history of acting as Kuwait law counsel in high quality debt capital market transactions, and this sovereign bond issuance is no exception.” 

Also commenting on the transaction, Mr. John Cunha – Partner at ASAR noted that: “This has been a landmark transaction in Kuwait and we are particularly happy to see that it was so well received by global investors. ASAR has a long established history of acting on precedent setting bond issuance transactions and this current transaction is no exception”

With dedicated offices in Kuwait and Bahrain coupled with its associated offices and relationships, ASAR provides clients across an extensive range of industry sectors with bespoke, practical legal advice and support for their business activities in Kuwait, Bahrain, across the GCC and beyond. 

The firm has been consistently rated as the leading corporate and commercial law firm in Kuwait by reputable legal guides such as the International Financial Law Review (IFLR), Chambers Global Guide, and the Legal 500. In 2016, ASAR was awarded with the IFLR National Law Firm of the Year Award; an award which ASAR has been delighted to receive for the 8th consecutive year. 

Posted by : Kuwait PR Network Editorial Team
Viewed 30344 times
PR Category : Banking & Investments
Posted on : Monday, March 27, 2017  8:31:00 AM UAE local time (GMT+4)
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories

 
 
Most Viewed Press Release posted in the last 7 days
Get closer- your makeup is invisible with Make Up For Ever's New Ultra HD Concealer [20693-Views]
Detox your scalp, detox your mind with new Head & Shoulders Charcoal [17130-Views]
The RL50 Handbag: Introducing a New Icon [16367-Views]
Roberto Cavalli launches new Florence Amber [14485-Views]
Italian Wonder D1 Milano Announces New Releases at Baselworld 2019 [10771-Views]
THE RECIPE for healthy skin [10726-Views]
Esposa Prive - Viktor&Rolf Mariage - Spring/Summer 2019 [9795-Views]
Record Number of Innovations at the ISH: GROHE is Shaping the Future of Water [9660-Views]
NEW OLAY WHIPS: Powerful Skincare, NOW Light as Air [9619-Views]
Cerruti 1881 [8885-Views]
The World of Aigner [7958-Views]
GROHE Shapes the Future of Water with a record number of innovations at ISH 2019 [7696-Views]
The RL50 Handbag: Introducing a New Icon [7331-Views]
Chaumet Launches The Bolero Watch [6990-Views]
OPPO confirms 10x Hybrid Zoom tech to launch in Middle East [6888-Views]
Spring Collection 2019 - Versus Mouffetard [6880-Views]
Michael Kors Watches | Summer 2019 [6872-Views]
Dabur Amla Kids – Natural nourishment for your child's hair [6716-Views]
Saint Honore Paris [6511-Views]
Translucent Is a Distinguished Milestone for Police [6277-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories