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The initial price thoughts (IPTs) on OPEC Fund for International Development’s debt issuance are at SOFR Mid Swaps semi annual 30/360 plus 68 basis points (bps) area.
The development financing institution rated AA+/AA+ S&P/Fitch has mandated banks to arrange fixed income investor conference calls for a benchmark-size US dollar Regulation S/144A 3-year fixed rate senior unsecured notes.
Settlement date is February 3, 2025.
Credit Agricole CIB, Citi, Goldman Sachs, J.P. Morgan and Nomura have been tapped to manage the issuance, which is expected to be launched in the near future, subject to market conditions.
The gross proceeds of the offering will be used to fund the daily operations.
The expected rating is AA+ S&P/AA+ Fitch Ratings for the issuance, which will be listed on the London Stock Exchange.
The OPEC Fund provides financing from member countries to non-member countries.
Credit Agricole CIB, Citi, Goldman Sachs, J.P. Morgan and Nomura have been tapped to manage the issuance, which is expected to be launched in the near future, subject to market conditions.
The gross proceeds of the offering will be used to fund the daily operations.
The expected rating is AA+ S&P/AA+ Fitch Ratings for the issuance, which will be listed on the London Stock Exchange.
(Writing by Brinda Darasha; editing by Seban Scaria)