DUBAI (Reuters) - The Arab Petroleum Investments Corporation (APICORP) on Wednesday sold $250 million of bonds maturing in February 2026 in a reopening of a bond sale last month, a document showed.
The Saudi Arabian company sold the bonds at 39 basis points (bps) over mid-swaps, tightening from initial guidance of around 45 bps over mid-swaps.
The deal has attracted more than $315 million in demand, the document from one of the banks on the deal showed.
The transaction is a "tap" - reopening a transaction for subscription using the same documentation as previously - of $750 million of bonds sold last month.
BofA Securities, China Construction Bank (OTC:CICHF), Citi, Emirates NBD Capital, Maybank, Nomura and Standard Chartered (OTC:SCBFF) arranged the deal.