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Blackstone, Brookfield, KKR Ink $16 Billion Kuwait Pipeline Deal
['Fiona Macdonald', 'Min Read']
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(Bloomberg) -- Kuwait has agreed a $16 billion infrastructure partnership with Blackstone Inc., Brookfield Asset Management Ltd. and KKR & Co. involving its oil-export pipelines, even as the Gulf nation comes under daily attacks from Iran.
Still, Kuwait raised $6 billion through a three-part dollar bond sale on Wednesday, underscoring resilient demand for the OPEC member's debt.
Kuwait pressed ahead with the pipeline transaction, the first to bring long-term capital from leading global investors into the country's midstream infrastructure, even amid the conflict, Bloomberg News reported.
The deal underscores the country's renewed push to attract foreign investment after years of capital shifting to neighboring Gulf states.
The deals typically allow national oil companies to raise capital from global institutional investors while retaining control of strategic infrastructure.