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JPMorgan and two Kuwaiti lenders join HSBC in a $6 billion financing syndicate.
JPMorgan and two Kuwaiti lenders have joined HSBC in a $6 billion financing syndicate for KPC's pipeline stake sale.
KEY POINTS
- The loan for the KPC pipeline stake carries a 20-year tenure and pricing at 170 basis points over SOFR.
- KPC delayed the bid deadline to April 28 due to conflicts and investors requesting more time.
- Investors are seeking guarantees against volume disruptions through Kuwait's pipeline network and the Strait of Hormuz.
- Kuwait's central bank eased liquidity standards for local lenders after the regional conflict began.
COMPANIES
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