DUBAI - Kuwait's Equate Petrochemical Company has hired banks to arrange an issuance of U.S. dollar-denominated benchmark seven-year bonds, subject to market conditions, a document showed on Monday.

Citi, JPMorgan, MUFG, NBK Capital will arrange fixed income investor calls across Asia, Europe and the United States staring on Monday, the document from one of the banks showed.

BNP Paribas, HSBC, Mizuho, SMBC Nikko and Standard Chartered are also on the deal.

Equate also announced an invitation to holders of its outstanding bonds due in 2022 to tender them for cash, subject to the settlement of the new bonds.

Citi, JPMorgan, MUFG and NBK Capital are arranging the tender offer.

 

(Reporting by Yousef Saba, editing by Louise Heavens) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))