Kuwait's National Industries Group (NIG) said on Tuesday it had received regulatory approval to raise KD25 million ($82.9 million) through a bond sale.

The transaction will have a lifespan of five years and pay a floating rate coupon of 2.5 percent over the local benchmark rate, NIG said in a bourse filing.

The conglomerate with interests in petrochemicals, oil and gas services, utilities, real estate, financial services and other sectors, did not name the arrangers of the bond sale, or state when the bond would be sold.  - Reuters