Argan to End Subscriptions for $95 Mln Bond Tomorrow, Watan Says

Al Argan International Real Estate Co. (ARGAN), a Kuwaiti property developer, will end subscriptions for $26.5 million dinars ($95 million) of five-year bonds tomorrow, Al-Watan reported, citing unidentified people familiar with the matter.

The company will use the bond sale, to take place in two installments, to fund continuing projects and future plans, the newspaper said, adding that the sale is managed by Kipco Asset Management Co., Kuwaiti Financial Center and Burgan Bank.

To contact the reporter on this story: Dahlia Kholaif in Kuwait at dkholaif@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.