KIPCO repays another US$ 175,000,000 syndicate loan early

KIPCO – the Kuwait Projects Company - has announced the early repayment of a US$175 million syndicated loan which was due to mature on July 20th, 2010. The loan was priced at Libor plus 1.25% and was repaid on 30th November 2006. This repayment continues KIPCO’s strategy of reducing its overall cost of funds and follows the company’s redemption announcement of a US$100 million syndicated loan earlier this month.