Bloomberg revealed that Kuwait is preparing to return to the international bond market for the first time in 8 years, after selecting banks to arrange the issuance of dollar bonds.

The bonds will be issued in tranches of 3, 5 and 10 years, according to a person familiar with the matter, who asked not to be identified because the information is not public.In June, officials from the Ministry of Finance began sending a request for proposals to banks, with the aim of raising about $6 billion from international debt markets, and it is unclear whether Kuwait plans to do so all at once, according to Bloomberg. Kuwait selected Citigroup, Goldman Sachs Group, HSBC Holdings PLC, JPMorgan Chase & Co.