By Mary-Katherine Stinson and Cristal Cody
Lexington, Ky., April 26 – Arab Petroleum Investments Corp., or Apicorp, sold $750 million of 5.428% green bonds due 2029 on Thursday, according to a market source.
The bonds priced at SOFR mid-swaps plus 95 basis points or Treasuries plus 95 bps after initial price talk came in at the SOFR mid-swaps plus 115 bps area. Guidance was in the SOFR mid-swaps plus 100 bps to 105 bps area.
The bonds were sold via Credit Agricole CIB, ENBD, JPMorgan, Nomura and Standard Chartered Bank.
Apicorp is a multilateral development bank based in Saudi Arabia.
| Issuer: | Arab Petroleum Investments Corp.
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| Amount: | $750 million
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| Issue: | Green bonds
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| Maturity: | May 2, 2029
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| Bookrunners: | Credit Agricole CIB, ENBD, JPMorgan, Nomura and Standard Chartered Bank
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| Coupon: | 5.428%
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| Spread: | SOFR mid-swaps plus 95 bps or Treasuries plus 95 bps
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| Pricing date: | April 25
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| Price talk: | SOFR mid-swaps plus 115 bps area; guidance at SOFR mid-swaps plus 100-105 bps area
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