APICORP raises $250mln from existing bonds

The financial institution said demand had been robust, with 40% of investors from outside MENA

  
Image used for illustrative purpose. One hundred Dollar bills.

Image used for illustrative purpose. One hundred Dollar bills.

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Saudi Arabia-based Arab Petroleum Investments Corporation (APICORP) has raised $250 million by retapping a $750 million bond issuance to the RegS markets.

Regulation S, often referred to as Reg S, are bonds or stocks that may not be offered, sold or delivered within the US.

The bonds were sold at 90 basis points over mid-swaps, the lowest ever for an APICORP bond issuance, the company said in a press release.

The dollar denominated bonds, first issued in June 2020, are part of APICORP’s $3 billion Global Medium Term Note (GMTN) programme.

APICORP said 40 percent of investors had come from outside the MENA region and 56 percent were from central banks, other sovereigns, supranationals and agencies (SSAs).

(Writing by Imogen Lillywhite; editing by Daniel Luiz)

imogen.lillywhite@refinitiv.com

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© ZAWYA 2020

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