Kuwait, a top oil producer, attracted substantial demand for its three-part bond offering on Tuesday, indicating strong investor appetite for the state's first sovereign U.S. dollar issue since 2017. "There has been significantly more interest in Kuwait amongst fixed-income investors this year," said Justin Alexander, director at Khalij Economics and Gulf analyst at GlobalSource Partners. "There are plenty of concerns about Kuwait’s governance, public finances, oil dependence and limited non-oil economy. Despite this, investors are reassured by the fact that Kuwait has so little outstanding debt," Alexander said. Reforms - like the public debt law - had been gridlocked for years over persistent clashes between appointed governments and Kuwait's directly elected parliament.