Kuwait Returns to Global Debt Markets with Dollar Bond Sale

Kuwait, a major oil-producing country, is selling bonds to borrow money.

This is their first time doing this in eight years.

They plan to sell bonds with different lengths, like 3, 5, and 10 years.

The interest rates are set to be around 70 basis points over US Treasuries for the shortest bond.

Kuwait's government is rated similarly to Japan and China in terms of how safe it is to lend to them.

Although the country's debt is currently low, it is expected to rise in the coming years as they borrow more to pay for government spending.

The legislation allowing this was recently approved, after being delayed for years.