British May Bypass Loan to Kuwait
LONDON - Monday's Financial Times reported that Britain's leading banks may refuse to join other international banks in lending to Kuwait to help the country in its postwar reconstruction.
The banks are reported concerned about having to lend at least $150 million apiece to Kuwait while striving to meet capital adequacy requirements.
Bankers said refusal to participate at a senior level in a Kuwaiti syndicated loan could jeopardize British industry's chances of winning important Kuwait contracts.
Kuwait announced plans to borrow $5 billion in the syndicated loan market on Oct. 10.