By Rebecca Melvin
New York, Sept. 12 – Saudi Arabia’s Arab Petroleum Investments Corp., or Apicorp, priced $750 million of 4 1/8% five-year senior notes (expected rating: Aa3) on Tuesday at 99.83 to yield 4.163%, or mid-swaps plus 117 basis points, according to a final term sheet.
The Rule 144A and Regulation S notes were sold via Credit Agricole CIB, HSBC, JPMorgan and Standard Chartered Bank as joint lead managers and bookrunners. Bank ABC, First Abu Dhabi Bank and Union National Bank were co-lead managers.
The notes settle on Sept. 18, and they mature Sept. 18, 2023. They will be listed on the Irish Stock Exchange.
Apicorp is a multilateral development bank.
| Issuer: | Arab Petroleum Investments Corp.
|
| Amount: | $750 million
|
| Maturity: | Sept. 18, 2023
|
| Description: | Senior notes
|
| Bookrunners: | Credit Agricole CIB, HSBC, JPMorgan and Standard Chartered Bank
|
| Co-managers: | Bank ABC, First Abu Dhabi Bank and Union National Bank
|
| Interest rate: | 4 1/8%
|
| Price: | 99.83
|
| Yield: | 4.163%
|
| Spread: | Mid-swaps plus 117 bps
|
| Pricing date: | Sept. 11
|
| Settlement date: | Sept. 18
|
| Expected rating: | Moody's: Aa3
|
| Distribution: | Rule 144A and Regulation S
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
