ASAR Al Ruwayeh & Partners Acts as Kuwait Legal Counsel to KIPCO for USD 500 million notes issuance

Business

ASAR Al Ruwayeh & Partners Acts as Kuwait Legal Counsel to KIPCO for USD 500 million notes issuance

ASAR - Al Ruwayeh & Partners (ASAR), Kuwait's leading and most prominent corporate law firm, and among the area's leading tier firms, has successfully completed its legal counsel of Kuwait Projects Company (Holding) K.S.C.P. (KIPCO) on the issuance of a US$ 500 million (KD 150.54 million) seven-year notes issuance under its USD 3 billion Euro Medium Term Note (EMTN) Programme.

The issuance was oversubscribed by 2.5 times and is a testimony to the confidence that global financiers have in KIPCO. The strong need permitted KIPCO to price the deal at a desirable prices range with a fixed rate promo code of 5 %. The notes were widely dispersed, with European investors designated 32 % of the transaction while Asian, UK, Middle East and US (offshore) investors accounted for 28 %, 23 %, 14 % and 3 % respectively.

Rob Little, Counsel at ASAR stated: "We have been fortunate to work with and represent KIPCO for fairly some time now and on a variety of high profile deals. ASAR values the confidence and trust that KIPCO's management has in our firm. Regardless of difficult economic times, this transaction underlines the ongoing interest of financiers in this possession class and in KIPCO.".

Mr. John Cunha, Partner at ASAR said: "Our involvement in such a significant transaction and the appeal it got is a testimony to the solid advancement of Kuwait based business in the worldwide capital markets arena. This latest offer highlights ASAR's abilities in the capital markets sector and in its servicing of Kuwait's leading tier companies. We look forward to remain to assist our clients in reaching their company and strategic goals.".

With devoted workplaces in Kuwait and Bahrain coupled with its associated workplaces and relationships, ASAR offers clients throughout a substantial variety of market sectors with comprehensive legal advice and assistance for their company activities in Kuwait, across the GCC and beyond.

In 2015, ASAR was awarded with the IFLR National Law Firm of the Year Award; an award which ASAR has actually been thrilled to receive for the 7th successive year. ASAR lawyers have likewise received several awards under different classifications in the Fourth Edition of 'Best Lawyers' in Kuwait.