State of Kuwait Issues International Bonds Worth $3.25 Billion in Two Tranches
Ministry of Finance announces successful issuance of bonds worth $3.25 billion in two tranches
Translated by Qiyas from كونا — Original source
Kuwait City, October 20 (KUNA) -- The Ministry of Finance announced on Tuesday that Kuwait successfully issued bonds in global debt markets with a total value of $3.25 billion, dated October 19, 2026. In a press release, the ministry stated that the issuance comprised two tranches: the first valued at $2.25 billion with a three-year maturity and a spread of 75 basis points over U.S. Treasury yields, and the second valued at $1 billion with a 10-year maturity and a spread of 105 basis points over U.S. Treasury yields.
The release quoted Finance Minister Dr. Yaqoub Al-Rafai, who said that this successful issuance reflects the confidence of the international investment community in Kuwait and the strength of its economic and financial foundations. Al-Rafai reaffirmed the continued adherence to a disciplined approach in managing public finances and public debt, ensuring sustained access to capital markets, preserving the country’s financial resilience, supporting sustainable economic growth, and diversifying the economy.
The statement noted that the issuance attracted strong interest from international investors, with total subscription orders peaking at $9.1 billion, equivalent to approximately 2.8 times the total issuance size. It added that the investor base was diverse and broad, with allocations distributed by investor type as follows: asset managers (39 percent), banks (31 percent), institutions and central banks (15 percent), hedge funds (8 percent), insurance companies and pension funds (6 percent), and other investor categories (1 percent).
Regarding geographic distribution, allocations were divided as follows: the United Kingdom and Europe accounted for 36 percent, the Americas 23 percent, the Middle East and North Africa 19 percent, Asia 12 percent, and other international markets 10 percent.
Citi, Goldman Sachs International, HSBC, JP Morgan, and SMBC served as joint global coordinators for the issuance, while Barclays, ICBC, and Morgan Stanley participated as joint bookrunners. (End) A.K. / N.W.F.
