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|24 September, 2018

SABIC hires banks ahead of dual-tenor dollar bond issue

The world's fourth-largest petrochemicals company has mandated BNP Paribas and Citi as global coordinators for the planned debt issue

A man walks past the headquarters of Saudi Basic Industries Corp in Riyadh. Image used for illustrative purpose.

A man walks past the headquarters of Saudi Basic Industries Corp in Riyadh. Image used for illustrative purpose.

REUTERS/FAISAL NASSER

DUBAI - Saudi Basic Industries Corp (SABIC) has hired banks to arrange a series of fixed income investor meetings ahead of a planned dual-tenor U.S. dollar-denominated bond issue, a bank document seen by Reuters shows on Monday.

The world's fourth-largest petrochemicals company has mandated BNP Paribas and Citi as global coordinators for the planned debt issue, together with HSBC, MUFG and Standard Chartered as joint lead managers.

It will meet investors in London, New York, Los Angeles and Boston starting on Sept. 25.

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(Reporting by Davide Barbuscia, editing by Louise Heavens) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))