KIPCO – Kuwait Projects Company (Holding) – announced the full repayment of the outstanding US$ 353.98 million of its US$ 500 million bonds issued under the company’s Euro Medium Term Note (EMTN) program, ahead of its scheduled maturity date.
The repayment was funded entirely from the Group’s existing resources, reflecting KIPCO’s strong liquidity position and disciplined approach to managing its financial obligations. The settlement, without the need for refinancing, comes amid continued uncertainty in global financial markets and elevated borrowing costs.
Commenting on the repayment, Mr Moustapha Chami, KIPCO’s Group Chief Financial Officer, said:
“The repayment of this bond reflects the strength of our liquidity position and our disciplined approach to liability management. Our ability to meet this obligation in full, without resorting to refinancing, is particularly significant in the current market environment. This repayment further reduces our overall debt and associated financing costs, while preserving the financial flexibility needed to support the Group’s strategic priorities.”
The repayment marks another milestone in KIPCO’s ongoing efforts to optimize its capital structure and reinforces its long-standing track record of meeting its financial commitments to investors.
Launched in 2006 with an initial size of US$ 2 billion and subsequently increased to US$ 3 billion, KIPCO’s EMTN program has served as an important platform for accessing international debt markets and diversifying the Group’s sources of funding. The program remains in place, providing KIPCO with the flexibility to access international debt markets as and when appropriate, in line with its financing strategy.
