apicorp issues 300m 5 year floating rate note in the taiwan market
Last Updated : GMT 07:25:12
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 07:25:12
Arab Today, arab today

APICORP issues $300m 5 year floating rate note in the Taiwan market

Arab Today, arab today

Arab Today, arab today APICORP issues $300m 5 year floating rate note in the Taiwan market

APICORP
Jeddah - Arab Today

The Arab Petroleum Investments Corporation (APICORP) has launched the first Formosa bond out of Saudi Arabia, targeting the Taiwanese investor base.
The oversubscribed $300 million transaction is described as the first successful Formosa bond out of the Kingdom.
In order to appeal to the local investor base, the Formosa bond, also known as a Taiwan foreign-denominated international bond, is listed on the International Board of the Taipei Stock Exchange. Credit Agricole CIB acted as the lead manager on the trade.
Hesham Farid, head of treasury and capital markets, commented: “We are delighted with the high level of interest from top quality investors in our first Formosa bond. The oversubscribed issue has allowed us to develop strong relationships with a new set of investors in Taipei. This is testament to APICORP’s impressive 40-year track record, unique ownership structure and strong fundamentals, and reassuring Aa3 credit rating.”
He added: “Having previously accessed the sukuk market in both the Saudi riyal and dollar, it was important for APICORP to continue to diversify our investor base, sources of funding and educate investors on the strength of the APICORP credit.”
Abrar Hussain, head of DCM for the MENA at Credit Agricole CIB, commented: “APICORP ticks all the boxes required by this specific investor base. It offers a strong Aa3 credit rating, a solid ownership by regional governments, diversification in terms of access to assets in several countries as well as strong fundamentals all rolled into one. This is the perfect name for the Taiwanese investor base.”

Source: Arab News

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*

apicorp issues 300m 5 year floating rate note in the taiwan market apicorp issues 300m 5 year floating rate note in the taiwan market

 



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*

apicorp issues 300m 5 year floating rate note in the taiwan market apicorp issues 300m 5 year floating rate note in the taiwan market

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation

GMT 09:46 2018 Sunday ,21 January

Karam tweets Lebanon's right to know Daesh secrets

GMT 07:20 2017 Sunday ,01 October

Ariane 5 rocket puts satellites into orbit

GMT 14:37 2018 Wednesday ,05 December

Serena Williams and Andy Murray return to Australian Open

GMT 15:27 2018 Wednesday ,12 December

King Abdullah II discuss cooperation with EU countries

GMT 13:02 2018 Tuesday ,04 December

French PM puts fuel tax hike on hold after protests

GMT 21:43 2015 Saturday ,21 March

Qatar's ministry of Awqaf opens 3 mosques
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