Arab Palestinian Investment ratifies issuance of $75 million of bonds

Chicago, May 21 – Arab Palestinian Investment Co.’s (APIC) general assembly ratified the issuance of new five-year corporate bonds to be issued as parallel issuances in dollars and euros with a nominal value of $75 million, according to a news release on Thursday.

The company plans to sell the bonds through a private offering.

Proceeds will be used to repay APIC’s existing $35 million of bonds due Jan. 18, 2022 through an early redemption. Proceeds will also be used to settle existing loans of APIC and its subsidiaries and finance general investments made by the company.

APIC is a foreign public shareholding investment company based in Ramallah, Palestine.

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