Kuwait: bonds

Kuwait, officially the State of Kuwait, is an Arab country in Western Asia. Situated in the northeastern edge of the Arabian peninsula at the tip of the Persian Gulf, it shares borders with Iraq to the north and Saudi Arabia to the south. The country covers an area of 17,820 square kilometers (6,880 square miles) and has a population of 2.6 million as of 2012. Kuwait is a small, relatively open economy with proven crude oil reserves of about 96 billion barrels (15.3 km3), i.e., about 10% of world reserves. Petroleum accounts for 43% of GDP, 87% of export revenues, and 75% of government income. Kuwait also export plant fertilizers.[9] Kuwait has little arable land, thus preventing reliance on the agriculture sector. Higher oil prices reduced the budget deficit from $5.5 billion to $3 billion in 1999, and prices are expected to remain relatively strong throughout the 2000s. It inaugurated Kuwait's first free-trade zone in 1999 and will continue discussions with foreign oil companies to develop fields in the northern part of the country. Kuwait has the second-most free economy in the Middle East.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
KWD 48 3 767 250 000
USD 2 8 000 000 000
corporate
USD 19 9 473 382 000
KWD 10 485 000 000
MYR 4 1 122 000 000

Sovereign rating

Rating AgencyRatingRating scaleDate
Dagong Credit *** International scale rating (foreign curr.) ***
Dagong Credit *** International scale rating (local curr.) ***
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
S&P Global Ratings *** Foreign Currency LT ***
S&P Global Ratings *** Local Currency LT ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
Kuwait, 2.5 20jul2022 - Domestic bonds 2.5% 100 000 000  KWD 07/26/2017 07/20/2022
Kuwait, 2 18jul2018 - Domestic bonds 2% 100 000 000  KWD 07/19/2017 07/18/2018
Kuwait, 2 4jul2018 - Domestic bonds 2% 100 000 000  KWD 07/05/2017 07/04/2018
Kuwait, 3 9jun2027 - Domestic bonds 3% 50 000 000  KWD 06/21/2017 06/09/2027
Kuwait, 1.75 6jun2018 - Domestic bonds 1.75% 100 000 000  KWD 06/07/2017 06/06/2018
Kuwait, 2.5 27may2020 - Domestic bonds 2.5% 100 000 000  KWD 05/31/2017 05/27/2020
National Bank of Kuwait, 2.75% 30may2022, USD - International bonds XS1622312434 2.75% 750 000 000  USD 05/22/2017 05/30/2022
Kuwait, 2.125 15may2019 - Domestic bonds 2.125% 100 000 000  KWD 05/17/2017 05/15/2019
Kuwait, 2.5 1may2024 - Domestic bonds 2.5% 50 000 000  KWD 05/10/2017 05/01/2024
Kuwait, 2.5 22apr2022 - Domestic bonds 2.5% 100 000 000  KWD 04/26/2017 04/22/2022

World Bond market statistics

Quarterly indices

Type I 2017 IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015
BIS volume of international-bond market of emerging countries
Kuwaiti international bonds, USD bln 8.000 2.700 2.500 2.700 2.100 2.100 2.500
BIS net issues of international-bond market of emerging countries
International-bond net issue of Kuwait, USD bln 5.300 0.200 0.200 0.600 0.000 -0.400 0.000

Currencies

Daily indices

Type: 07/05/2017 07/04/2017 07/03/2017 06/30/2017 06/29/2017 06/28/2017 06/27/2017
Exchange Rates (Emerging Markets)
USD/KWD 0.3036 0.3034 0.3031 0.3029 0.3029 0.3034 0.3039
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Macroeconomic Indicators (World economy)

Monthly indices

Type Jun 2017 May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017
Inflation Rate (World), % to the same period of the previous year
Inflation Rate (Kuwait) 1.40 2.70 2.63 2.63 3.22 3.29
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Yearly indices

Type 2016 2015 2014
Government Debt to GDP (World), %
Government Debt to GDP(Kuwait) 18.60 11.20 7.50

JP Morgan

Daily indices

Type: 08/20/2013 08/19/2013 08/16/2013 08/15/2013 08/14/2013 08/13/2013 08/12/2013
CEMBI (publication was suspended since 20.08.2013) 
CEMBI Kuwait * * * * * * *
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Bonds prices

issue volume maturity date bid prices ask prices
date bid price yield date ask price yield
Boubyan Bank, 6.75% perp., USD   USD 05/18/2016 ***.** * 05/18/2016 ***.** *
Burgan Bank, 7.25% perp., USD   USD 05/18/2016 **.** * 05/18/2016 **.* *
Gulf Investment Corp, 3.250% 28nov2017, USD   USD 11/28/2017 05/18/2016 ***.*** *.** 05/18/2016 ***.** *.**
Gulf Investment Corp, 4.520% 6feb2023, MYR   MYR 02/06/2023 05/18/2016 **.*** *.** 05/18/2016 **.*** *.**
Kuwait Energy, 9.5% 4aug2019, USD   USD 08/04/2019 05/18/2016 **.* **.** 05/18/2016 **.* **.**
Kuwait Projects Company Holding (KIPCO), 4.8% 5feb2019, USD   USD 02/05/2019 05/18/2016 ***.* *.** 05/18/2016 ***.*** *.**
Kuwait Projects Company Holding (KIPCO), 5% 15mar2023, USD   USD 03/15/2023 05/18/2016 ***.*** *.** 05/18/2016 ***.** *.**
Kuwait Projects Company Holding (KIPCO), 8.875% 17oct2016, USD   USD 10/17/2016 05/18/2016 *** *.** 05/18/2016 ***.** *.**
Kuwait Projects Company Holding (KIPCO), 9.375% 15jul2020, USD   USD 07/15/2020 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
National Bank of Kuwait, 5.75% perp., USD   USD 05/18/2016 *** * 05/18/2016 ***.* *
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