Kuwait this week raised $8bn in a debut Eurobond slated to cover its expected budget deficit for the 2017-18 year starting 1 April.
The issue was three times oversubscribed, attracting $29bn in bids. Kuwait previously said it would seek to raise $10bn from its debut foray in the debt market. But with oil prices firmly above $50/B since December, the amount needed by the government was re-estimated at $8bn. (CONTINUED - 636 WORDS)