Morgan Nears Completion Of $5 Billion Kuwait Deal

J.P. Morgan & Co. is close to completing a $5 billion syndicated loan to Kuwait, a Morgan spokesman said Tuesday. The issue "is fully subscribed, and we hope to have it completed shortly," the spokesman added.

However, a Friday deadline for commitments was extended to next Tuesday in order to give banks more time to decide how much to commit. The loan carries a margin of half a point over the London interbank offered rate.

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