💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

APICORP sells $250 million in reopened bond deal

Published 03/03/2021, 10:49 AM
Updated 03/03/2021, 10:50 AM
© Reuters.
CICHF
-
SCBFF
-

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.