Kuwait International Bond Issuance

Kuwait has coffered $8 Bn through a dual tranche offering of 5- and 10year notes and has launched a $3.5Bn March 2022 bond at 75bp over Treasuries and a $4.5-Bn March 2027 note at plus 100bp. The absence of activity in the past shepherded the bond to being oversubscribed 3.2 times, with bids worth $29 Bn received, indicating hawkish investor sentiments toward debt markets. The current transaction surfaces up the fact that Kuwait holds the potential

Oil Market Review

March 2017 witnessed the largest dip since July 2016 when Brent crude hit the all-time lows by clocking a slippery decline of 5%, touching down at $52.83. Poor commitment from the non-OPEC members to cut production was one of the reasons for the fall in oil prices. An initial jack up in oil prices at the start of the year opened the taps from rigs in the United States, thereby gearing up supply to the market and derailing the reduced production from the OPEC members.