Dubai PR Network, Online Press Release from Dubai and Middle East
 
Oil & Gas(Energy and Industry)
Filter PR by
  
The Arab Petroleum Investments Corporation (APICORP) issues USD 300 million 5-Year Dual Listed Floating Rate Formosa
 
The Arab Petroleum Investments Corporation (APICORP) issues USD 300 million 5-Year Dual Listed Floating Rate Formosa

The transaction from APICORP is the third successful “Formosa” bond since its first Formosa issuance in 2016

Dubai, UAE, April 03, 2019:   The Arab Petroleum Investments Corporation (APICORP), a multilateral development bank, rated Aa3 by Moody’s with a positive outlook, successfully issued its third Formosa bond after accessing this market earlier in 2016 and 2017. The Aa3 rated USD 300 million 5-year Note which matures on April 01, 2024, offers investors a floating rate coupon. 

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.

Mr. Hesham Farid, Managing Director of Treasury & Capital Markets, APICORP, commented: “We are delighted with the successful issuance of APICORP’s third Formosa bond which is a reflection of our impressive 40-year track record, unique ownership structure and strong fundamentals.”
Credit Agricole Corporate and Investment Bank, Taipei Branch, HSBC Bank (Taiwan) Limited and Standard Chartered Bank (Taiwan) Limited acted as lead managers & book runners on the trade, while Taishin International Bank, President Securities, Bank of Taiwan, KGI Securities, Yuanta Securities and Fubon Securities acted as co-managers for the transaction.

Mr. Abrar Hussain, Head of DCM MENA, Crédit Agricole Corporate and Investment Bank, said: “We are pleased to have supported APICORP once again in the Formosa market. The issuance showcases the unique nature of the credit by not only achieving overwhelming demand, but also securing attractive terms.”
Faisal Qadri, Managing Director, Head of Debt Capital Markets and Structured Finance at HSBC Saudi Arabia, added: “The strong investor appetite achieved in this transaction is a reflection of investors’ confidence in APICORP’s unique credit profile and their ability to access diversified funding sources. HSBC is proud to have partnered with APICORP in this journey.”

Salman Ansari, Managing Director, Head, Capital Markets, West, Standard Chartered Bank, said: “Standard Chartered is proud to be working with APICORP yet again on another landmark transaction. The resounding success of the APICORP’s Formosa bond offering reflects the strong confidence investors 

have placed in APICORP’s credit and growth story. The transaction further cements APICORP’s strategy of becoming a regular issuer in the global markets.”


Posted by : Dubai PR Network Editorial Team
Viewed 3508 times
PR Category : Energy and Industry
Posted on : Wednesday, April 3, 2019  11:38:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : DP World, UAE Region to Unveil Door-to-door Solutions at GPC...
Next Story : ENOC Group to offer over 200 job opportunities at Careers UA...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Michael Kors Watches | Summer 2019 [9467-Views]
Saint Honore Paris [9083-Views]
Spring Collection 2019 - Versus Mouffetard [9077-Views]
Super-Perfecting Radiance Skincare with FILORGA's OXYGEN-GLOW Range [8455-Views]
Longchamp X Nendo A “!” Moment Around Le Pliage® [8125-Views]
Color Your World with Wet n Wild Beauty this Spring [8015-Views]
Desigual SS19 Collection [7960-Views]
Amorepacific Group holds an event for its 1st anniversary in the Middle East [7607-Views]
BMW at Auto Shanghai 2019 [6802-Views]
Your ultimate fragrance gift guide for Ramadan 2019 [6789-Views]
Coach presents Delancey Collection [6722-Views]
Modesty meets festive spirit in Diva Abaya's Ramadan collection. [6673-Views]
Tissot Heritage Visodate Quartz [6545-Views]
The Region's Most Loved Health & Beauty Brands at Beautyworld Middle East, Thanks to World... [6368-Views]
Rob Raco: new FENDI Men's Eyewear Collection Ambassador [6368-Views]
IKEA Collection Launch | TÄNKVÄRD [6326-Views]
Speedmaster Apollo 11 50th Anniversary Limited Edition [6039-Views]
Johnson's participates in Arab Hospitals Federation [5502-Views]
Experience a Moment of Pure Joy With Starbucks First Ever Frappuccino Matcha Tea [5466-Views]
Al-Futtaim Toyota rewards customers ahead of the holy month of Ramadan [5185-Views]
HUGO BOSS watches Legacy Collection [5118-Views]
BOLLYWOOD PARKS™ Dubai gets ready for grand Vishu celebrations on April 12th [5112-Views]
Catch the free two-time Guinness World Record attraction IMAGINE as it lights up Festival ... [5075-Views]
Supercharged Innovation: Galaxy S10 encompasses breakthrough camera technology [5063-Views]
Enjoy Your Love for Burgers and Arts at Artsy Shacks in Dubai [4801-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories