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DUBAI, Nov 19 (Reuters) - Kuwait Foreign PetroleumExploration Company (Kufpec), a wholly-owned subsidiary ofKuwait Petroleum Corp, has signed a $1 billion loan, it said onWednesday.
Bank of Tokyo-Mitsubishi-UFJ, HSBC Plc, JP Morgan,National Bank of Kuwait (NBK) and Royal Bank ofScotland acted as underwriters, joint bookrunners andinitial mandated lead arrangers for the loan, the company saidin a statement on the Kuwait News Agency website. JP Morgan andNBK also acted as joint coordinators, it said.
Reuters reported last month that Kufpec had launched thefive-year amortising term loan into syndication.
Kufpec, which is responsible for exploration, developmentand production of crude oil and natural gas outside Kuwait, saidit was aiming to raise its output to 200,000 barrels of oilequivalent per day with reserves of 650 million barrels of oilequivalent by 2020. It is active in 15 countries, with 63projects in the international upstream sector, it added. (Reporting By Tom Arnold; editing by Keiron Henderson)
