Kuwait sold $11.25 billion in a three-tranche bond on Tuesday, attracting strong demand for the sale, its first in eight years, fixed income news service IFR reported.
The Gulf oil exporter launched a $3.25 billion, three-year portion at 40 basis points (bps) over U.S. Treasuries, a $3 billion five-year tranche at 40 bps over the same benchmark and a $5 billion 10-year portion at 50 bps.
Pricing tightened at launch due to strong investor appetite for the deal, which attracted orders of more than $23 billion.
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