APICORP issues USD 300 million bond

04/04/2019 Argaam

 

Dammam-headquartered Arab Petroleum Investments Corp (APICORP) has issued its third Formosa bond. The Aa3 rated USD 300 million 5-year note which matures on April 01, 2024, offers investors a floating rate coupon, it said in a statement.

 

“The transaction attracted robust investor demand with order book close to three times oversubscribed, enabling APICORP to price its Formosa well within its secondary curve while also continuing to strengthen its investor access into Asia, innovate its funding profile and access efficient and cost-effective financing solutions,” the statement added.

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