Central Bank of Kuwait Issues 100 Million KD in Government Bonds

The Central Bank of Kuwait, on behalf of the Ministry of Finance, announced the results of its domestic public debt issuance, which involved issuing treasury bills and conducting a debt operation with a total value of 100 million Kuwaiti dinars, maturing in 7 years and due on September 14, 2033.

Data from the issuance published on the Central Bank’s website showed that the marginal competitive yield was 3.625%, while the lowest acceptable yield was 1.938%, the median yield was 4%, and the highest submitted yield was 4.75%.

Total competitive bids amounted to 306 million dinars, submitted through 39 requests. Thirteen requests totaling 100 million dinars were accepted, resulting in a coverage ratio of 3.06 times.

The maximum allocation was set at 40 million dinars. The entire issuance was allocated to the competitive tranche, with no allocation made to the non-competitive tranche. Issuance yields are payable every six months, and the yield formula was defined as the yield on Central Bank of Kuwait 6-month treasury bills plus a margin.