Kuwaiti law firm ASAR-Al Ruwayeh & Partners (ASAR) acted as legal counsel to Kuwait Projects Company (KIPCO) in connection with the issuance of a $500 million seven-year notes issuance under its $3 billion Euro Medium Term Note (EMTN) programme. 

The issuance was oversubscribed 2.5 times. The notes were widely distributed, with European investors allocated 32 percent of the transaction, while Asian, UK and Middle East investors accounted for 28 percent, 23 percent and 14 percent respectively. 

"Despite challenging economic times, this transaction underlines the continued interest of investors in this asset class and in KIPCO," said ASAR counsel Rob Little in a statement.