Kuwait's Equate tightens price guidance, gets over $4.25bln in demand - document

The deal is expected to close on Tuesday

  
Image used for illustrative purpose. Kuwait City Skyline, Kuwait.

Image used for illustrative purpose. Kuwait City Skyline, Kuwait.

Getty Images/Emad Aljumah

DUBAI - Kuwait's Equate Petrochemical Company tightened its price guidance on a planned dual-tranche dollar bonds issue and has received more than $4.25 billion in orders for the deal, a document showed on Tuesday.

Equate tightened the guidance to around 5.25% from around 5.5% for the five-year tranche and to around 6.125% from around 6.375% for the 10-year notes, a document from one of the banks leading the deal showed.

(Reporting by Yousef Saba; Editing by Jon Boyle) ((Yousef.Saba@thomsonreuters.com; +971562166204))

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