APICORP gives final price guidance for $250mln bonds due in February 2026 - document

BofA Securities, China Construction Bank, Citi, Emirates NBD Capital, Maybank, Nomura and Standard Chartered are arranging the deal

  
A trader talks on the phone during the opening of the Dubai stock market June 26, 2016. Image for illustrative purpose

A trader talks on the phone during the opening of the Dubai stock market June 26, 2016. Image for illustrative purpose

REUTERS/Ahmed Jadallah

DUBAI - The Arab Petroleum Investments Corporation (APICORP) has set the final price guidance for a reopening of existing bonds due in February 2026 through which it is expected to raise $250 million, a document showed on Wednesday.

The deal has received over $450 million in orders, the document from one of the banks showed.

APICORP gave final price guidance of 40 basis points (bps) plus or minus 1 basis point over mid-swaps, tightening from initial guidance of around 45 bps points over mid-swaps.

The transaction is a "tap" - reopening a transaction for subscription using the same documentation as before - of $750 million bonds it sold last month. 

BofA Securities, China Construction Bank, Citi, Emirates NBD Capital, Maybank, Nomura and Standard Chartered are arranging the deal, to be launched later on Wednesday.

(Reporting by Yousef Saba, Editing by Louise Heavens) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))

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