Kuwait Foreign Petroleum Exploration Company (Kufpec) has picked five banks to arrange a $750-million, five-year loan to help fund its general business operations, three banking sources told Reuters on Thursday.
Kufpec has chosen Bank of Tokyo-Mitsubishi, HSBC Holdings, JP Morgan Chase, National Bank of Kuwait (NBK) and Royal Bank of Scotland to arrange the loan, the sources said, speaking on condition of anonymity. NBK and JP Morgan are coordinating.
Kufpec is owned by state oil firm Kuwait Petroleum Company and has an international focus.
A Kufpec spokesman was not immediately available for comment.
Read more: http://www.gulfbase.com/news/kuwait-petro-firm-picks-banks-for-750m-loan/229311
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