The firm advises KIPCO and the Joint Lead Managers in Kuwait’s first ever 7 year corporate bond issuance
Kuwait – January 2018: ASAR – Al Ruwayeh & Partners (ASAR), Kuwait’s leading and most prominent corporate law firm, and one of the region’s top tier firms, acted as Kuwait legal counsel to both Kuwait Projects Company (Holding) K.S.C.P. (as Issuer) and the Joint Lead Managers in the Issuer’s KD100 million bonds issuance which was successfully completed on 28 December 2017. KAMCO Investment Company K.S.C.(Public), Gulf Bank K.S.C.P., and Watani Investment Company K.S.C.C. acted as Joint Lead Managers under the bond issuance transaction. The bond issuance was well received by both institutional and high net worth investors and was oversubscribed. Of note, the bond issuance is the first seven year corporate bond issuance to be issued in Kuwait.
Commenting on the bond issuance, Mr. Rob Little, Counsel at ASAR said: “We are very pleased to have been part of KIPCO’s bond issuance transaction. While global and GCC markets remain under some pressure, we believe that similar transactions are key to the overall stability of steady economic growth. ASAR has a long established history of acting in leading capital markets transactions, and this current transaction is no exception.”
Mr. Ibrahim Sattout, Partner at ASAR said: “Our involvement in KIPCO’s latest bond issuance transaction and the popularity it received is a testament to the solid development of the local market. We strongly believe that Kuwait’s private sector is steadily growing to align with the country’s development plan. Today’s announcement reaffirms the proficiency that ASAR enjoys, and we look forward to continue to assist our existing and new client’s in achieving their goals and corporate objectives.”
Mr. John Cunha, Partner at ASAR said: “We are delighted to have acted on behalf of KIPCO and the joint lead managers on KIPCO’s latest bond issuance. This transaction is a testament to the strength and depth of local and regional financial capital markets. The successful conclusion of this transaction is the result of the hard work of KIPCO, the joint lead managers, and the relevant regulators in Kuwait such as the CMA.”
With dedicated offices in Kuwait and Bahrain coupled with its associated offices and relationships, ASAR provides clients across an extensive range of industry sectors with comprehensive legal advice and support for their business activities in Kuwait, Bahrain, across the GCC and beyond.
The firm has been consistently rated as the leading corporate and commercial law firm in Kuwait by reputable legal guides such as the Chambers Global Guide, International Financial Law Review (IFLR) and the Legal 500. In 2017, ASAR was awarded with the “IFLR National Law Firm of the Year Award”; an award which ASAR has been delighted to receive for the 9th consecutive year. Also in 2017, the firm won the “IFLR M&A Deal of the Year Award” and the “IFLR Restructuring Deal of the Year Award”.
About ASAR – Al Ruwayeh & Partners (ASAR)
ASAR – Al Ruwayeh & Partners (“ASAR”) is Kuwait’s leading tier one corporate law firm and one of the most prominent firms operating across the GCC. ASAR provides clients with comprehensive legal support for their business activities. Together with its office in Bahrain, the firm advises a broad array of local and international businesses in both the public and private sectors.
ASAR operates across an extensive list of practices that include banking and finance, capital markets, mergers and acquisitions, privatizations, corporate and commercial transactions, energy, real estate, restructuring, private equity, shipping, employment, environment, franchising, insurance, agencies and distributorships, construction, government projects, intellectual property, securities, taxation, commercial litigation and arbitration.
The firm has been consistently rated as the leading corporate and commercial law firm in Kuwait by legal guides such as the Chambers Global Guide, International Financial Law Review and the Legal 500.