Skip to content
Subscriber Only

Dow Chemical’s Kuwait Venture Said to Plan Up to $3 Billion Bond

  • HSBC, NBK Capital, JPMorgan, Citigroup said among arrangers
  • Company raised $5 billion loan in June, $6 billion in 2015

Kuwait’s Equate Petrochemical Co. has hired banks for a potential bond issue of as much as $3 billion, according to two people with knowledge of the deal.

The joint venture between Dow Chemical Co. and Kuwait’s state-owned Petrochemical Industries Co. mandated lenders including HSBC Holdings Plc, NBK Capital, JPMorgan Chase & Co. and Citigroup Inc. to arrange the sale of dollar-denominated securities, the people said, asking not to identified as the information isn’t yet public. The preferred tenor for the issue, which is expected in 2016, is five years, they said.