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Tue 8 Nov 2016 12:15 PM

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Kuwait to sell $10bn in international bonds early next year

Finance Minister Anas Al Saleh says preparations with international banks are under way

Kuwait to sell $10bn in international bonds early next year
(Yasser al-Zayyat/AFP/Getty Images)

Kuwait plans to offer 3 billion dinars ($9.91 billion) in bonds to international investors early next year, the Kuwaiti finance minister said on Tuesday.

Anas Al Saleh also journalists that Kuwait's public debt stood at 2.967 billion dinars on Oct. 19, while new domestic debt issues from April 1 to Oct. 19 reached 1.38 billion dinars.

Responding to a question on the date for issuing international bonds, Al Saleh said: "That will be at the beginning of next year, God willing. We have (previously) announced at the National Assembly that the issue will be worth around 3 billion dinars."

He added that preparations with international banks were under way regarding the bond sale. He did not elaborate.

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