Kuwait draws strong demand for three-part US dollar bond sale
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Kuwait successfully attracted strong demand for its three-part U.S. dollar bond sale, marking its first sovereign issue since 2017. The offering saw orderbooks exceeding $20 billion, reflecting heightened interest among fixed-income investors despite concerns over governance and oil dependence. Kuwait's new debt law, passed in March, allows for diversification of funding sources and supports economic reforms. Initial pricing for the bonds was set at 70 bps over U.S. Treasuries for the 3-year portion, with Citigroup, Goldman Sachs, HSBC, JPMorgan, and Mizuho as lead managers.
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