科威特Equate发行首批海湾美元债券

据油气新闻网站3月24日消息 路透社的一篇报道称，根据路透社看到的一份投资者说明，科威特Equate石化公司计划发行10年期和30年期美元计价债券和5年期伊斯兰债券，这将是一个多月来首次从海湾地区发行国际债券。

这笔交易的规模将达到基准，一般来说，每笔交易至少需要5亿美元。

由于疫情流行和油价的大幅下跌，海湾地区的债券销售出现疲软态势。

一些债券发行被搁置，包括迪拜伊斯兰银行计划发行的伊斯兰债券。

Equate邀请花旗、摩根大通、KFH资本、三菱金融集团和NBK资本来执行这笔交易。阿布扎比第一银行、汇丰银行、瑞穗银行和中小型银行日兴银行也参与了交易。

这些银行正在安排一系列与全球投资者的通话，这些通话从周一开始，随后将根据市场情况进行三笔交易。

疫情也使债券行业变得复杂。

2026年到期的等同石化10年期美元债券收益率周二从3月6日的2.8%攀升至4.6%，当时石油战正在开启。

Refinitiv数据显示，其2022年到期的5年期美元债券收益率从同期的2.4%跃升至4.6%。

Equate石化85%的股份由陶氏化学公司和科威特国有石油公司下属的石化工业公司所持有。

王磊 摘译自 油气新闻

原文如下：

Equate to issue first Gulf dollar bonds

Kuwait's Equate Petrochemical Co plans to issue 10- and 30-year US dollar-denominated bonds and five-year sukuk, according to an investors' note seen by Reuters, in what would be the first international debt issuance from the Gulf in more than a month, says a Reuters report.

The deal will be of benchmark size, which generally means at least $500 million per tranche.

Bond sales from the Gulf have faltered due to the coronavirus pandemic and a sharp fall in oil prices.

Some have been shelved, including sukuk, or Islamic bonds, planned by Dubai Islamic Bank

Equate hired Citi, JPMorgan, KFH Capital, MUFG and NBK Capital to lead the deal. First Abu Dhabi Bank, HSBC, Mizuho and SMBC Nikko are also on the deal.

The banks are arranging a series of calls with global investors that began on Monday, to be followed by the three-tranche transaction, subject to market conditions.

The pandemic is also complicating bond roadshows.

The yield on Equate Petrochemical 10-year dollar bonds due in 2026 had climbed to 4.6 per cent on Tuesday from 2.8 per cent on March 6, when talks between Opec and other oil producers over coordinated output cuts aimed at supporting crude prices collapsed.

The yield on its five-year dollar bonds due in 2022 jumped to 4.6 per cent from 2.4 per cent in the same period, Refinitiv data showed.

Equate Petrochemical is 85 per cent owned by the Dow Chemical Company and Petrochemical Industries Company, a subsidiary of government-owned Kuwait Petroleum Corporation.