Kuwait Petroleum Corporation (KPC) has agreed to procure a syndicated loan of Kd1.5bn ($4.89bn) to support its strategy to boost oil output. The syndicated loan, denominated in Kuwaiti dinars, will comprise conventional and Islamic tranches and will help finance the company’s expansion plans, reported Reuters. It will be split into a conventional portion of Kd825m and an Islamic tranche of Kd675m. The National Bank of Kuwait will initially extend Kd330m in funding, with the possibility of an additional ...