Arab Today, arab today apicorp launches 3bn islamic sukuk programme
Last Updated : GMT 05:46:54
Arab Today, arab today
Arab Today, arab today

To diversify sources of funding

APICORP launches $3bn Islamic sukuk programme

Arab Today, arab today

Arab Today, arab today APICORP launches $3bn Islamic sukuk programme

APICORP provides investments, loans and expert research to Arab energy industry
Riyadh - Arab Today

The Arab Petroleum Investments Corporation (APICORP) said Monday it has established a $3-billion Islamic sukuk programme to diversify its sources of funding and enhance links to global investors.

Sukuk is the Islamic sharia law-compliant equivalent of bonds.

The programme marks a strategic step for APICORP, the investment company of the Organisation of the Arab Petroleum Exporting Countries, as it is set to become a regular issuer of sukuk in global markets, it said in a statement.

Chairman Abed al-Saadoun said the move "will allow APICORP to diversify its funding sources, reduce the overall cost of financing, extend the company's debt maturity profile, and enhance our access to a diverse set of global investors."

He said the programme will enable APICORP to extend attractive financing terms to its clients and partners and enhance its ability to participate in financing some energy projects not currently attractive to commercial banks.

Standard Chartered Bank is acting as sole arranger for the programme, which will be listed on the Irish Stock Exchange and rated by Moody's.

APICORP may start issuing its first sukuk later this year subject to market conditions, it said.

Established in 1975, APICORP, which is based in Dammam, Saudi Arabia, provides investments, loans and expert research to the Arab energy industry.
Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today apicorp launches 3bn islamic sukuk programme Arab Today, arab today apicorp launches 3bn islamic sukuk programme

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today apicorp launches 3bn islamic sukuk programme Arab Today, arab today apicorp launches 3bn islamic sukuk programme

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday