APICORP to sell $750mln in 5-year green bonds - document

Barclays, BofA Securities, Credit Agricole, HSBC, JPMorgan, LBBW, Nomura and Standard Chartered are arranging the deal

  
A money counting machine is pictured at a currency exchange office in Istanbul, Turkey August 13, 2018. Image used for illustrative purpose.

A money counting machine is pictured at a currency exchange office in Istanbul, Turkey August 13, 2018. Image used for illustrative purpose.

REUTERS/Osman Orsal

DUBAI - The Arab Petroleum Investments Corporation (APICORP) is expected to raise $750 million in five-year green bonds on Tuesday, for which initial price guidance was around 50 basis points over mid-swaps, a document showed.

Barclays, BofA Securities, Credit Agricole, HSBC, JPMorgan, LBBW, Nomura and Standard Chartered are arranging the deal, with Credit Agricole as structuring advisor, the document from one of the banks showed.

The bonds, expected to launch later on Tuesday, will be used to finance, refinance or invest in projects linked to APICORP's Green Finance Framework, which include projects in green buildings, renewable energy, and pollution prevention and control, the document showed.

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


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