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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  HSBC Holdings plc    HSBA   GB0005405286

HSBC HOLDINGS PLC

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Kuwait's Kufpec says it has raised additional $1.5 billion loan

04/04/2015 | 08:06am EST

DUBAI (Reuters) - Kuwait Foreign Petroleum Exploration Company (Kufpec), a wholly-owned subsidiary of Kuwait Petroleum Corp, said on Saturday it had received an additional $1.5 billion (1 billion pound) loan, raising a previous debt it took last November to $2.5 billion.

The new funding will be used to finance the company's current and future projects and international expansion plans, Kufpec said in a statement on Kuwait's state news agency KUNA.

Bank of Tokyo-Mitsubishi-UFJ, HSBC Plc (>> HSBC Holdings plc), JP Morgan, National Bank of Kuwait (NBK) (>> National Bank of Kuwait SAK) and Royal Bank of Scotland (>> Royal Bank of Scotland Group plc) acted as underwriters, joint book runners and initial mandated lead arrangers for the loan, the company said. JP Morgan and NBK also acted as joint coordinators.

In November 2014, Kufpec said it had signed a $1 billion loan. Reuters has reported that Kufpec had launched the five-year amortising term loan into syndication.

Kufpec, which is responsible for exploration, development and production of crude oil and natural gas outside Kuwait, said it was aiming to raise its output to 200,000 barrels of oil equivalent per day with reserves of 650 million barrels of oil equivalent by 2020. It is active in 15 countries, with 63 projects in the international upstream sector, it added.

(Reporting by Rania El Gamal; Editing by Stephen Powell)


© Reuters 2015
Stocks mentioned in the article
ChangeLast1st jan.
AIMING INC. -0.22% 456 End-of-day quote.45.69%
HSBC HOLDINGS PLC 0.03% 397.5 Delayed Quote.-32.78%
LETS HOLDINGS GROUP CO., LTD. 1.30% 9.36 End-of-day quote.54.97%
NATIONAL BANK OF KUWAIT 0.69% 1025 End-of-day quote.-0.19%
NATWEST GROUP PLC -2.02% 160.15 Delayed Quote.-33.35%
THE LEAD CO., INC. 65.68% 1009 End-of-day quote.158.72%
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Financials (USD)
Sales 2020 50 046 M - -
Net income 2020 3 567 M - -
Net Debt 2020 - - -
P/E ratio 2020 31,0x
Yield 2020 1,79%
Capitalization 108 B 107 B -
Capi. / Sales 2020 2,15x
Capi. / Sales 2021 2,17x
Nbr of Employees 230 317
Free-Float 98,1%
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Average target price 4,95 $
Last Close Price 5,31 $
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Spread / Average Target -6,89%
Spread / Lowest Target -29,5%
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Noel Paul Quinn Group Chief Executive Officer & Executive Director
Mark Edward Tucker Non-Executive Group Chairman
John M. Hinshaw Group Chief Operating Officer
Ewen James Stevenson Chief Financial Officer & Executive Director
May Lung Cha Independent Non-Executive Director
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