Sabic selects banks for dollar 10-year bond and dual-listed 30-year Formosa tranche

By Rebecca Melvin

New York, Sept. 2 – Saudi Basic Industries Corp. (Sabic) has mandated bookrunners for a U.S. dollar-denominated offering of 10-year bonds and a 30-year dual-listed Formosa tranche, according to a market source.

BNP Paribas, Citigroup and HSBC are global coordinators, joint bookrunners and joint lead managers mandated to organize a series of fixed-income investor calls on Wednesday.

Mizuho Securities, MUFG and SMBC Nikko are also acting as joint bookrunners on the 10-year transaction and as structuring agents on the 30-year Formosa bond.

A Regulation S senior unsecured dollar-denominated dual tranche deal, issued by Sabic Capital I BV, will follow subject to market conditions.

Sabic is a Riyadh-based manufacturer of chemicals, fertilizers, plastics and metals.

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