Kuwait-Mubasher: Kuwait’s Equate Petrochemical Co. plans for a potential bond issue of as much as KWD 904.50 million ($3 billion), Bloomberg quoted two people with knowledge of the deal as saying.

The joint venture between Dow Chemical Co. and Kuwait’s state-owned Petrochemical Industries Co. hired lenders including HSBC Holdings, NBK Capital, JPMorgan Chase and Co. and Citigroup Inc. to arrange the sale of dollar-denominated securities.

The preferred tenor for the issue, which is expected in 2016, is five years, they said.