KUWAIT, Jan 22 (Reuters) - Kuwait Projects Co (KIPCO), the Gulf state's largest investment firm by assets,plans to issue up to $500 million worth of medium-term bonds andhired a group of international banks to help arrange the sale,it said on Wednesday.
A statement to the stock exchange gave no details on thetiming of the sale which KIPCO said was part of an overall $2billion issuance programme.
Reuters reported on Tuesday that KIPCO had chosen threebanks to arrange the sale which would start roadshows in Asia,the Middle East and Europe from Jan. 23.
A document from lead managers showed that KIPCO had hiredBNP Paribas, HSBC Holdings and J.P. MorganChase Inc for the sale, the first international bondoffering from a Gulf-based institution in 2014.