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APICORP issues $300 million dual listed formosa bond

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The company’s five-year note matures on 1 April 2024 and offers investors a floating rate coupon.

Thursday 04, April 2019 BY KUDAKWASHE MUZORIWA

The Arab Petroleum Investments Corporation (APICORP) has issued its third $300 million five-year formosa bond.

In a statement, APICORP said that the transaction attracted robust investor demand with order book close to three times oversubscribed, enabling the lender to continue to strengthen its investor access into Asia, innovate its funding profile and access efficient as well as cost-effective financing solutions.

Hesham Farid, APICORP’s Managing Director of Treasury and Capital Markets, said, “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, HSBC and Standard Chartered acted as lead managers and book runners on the trade, while Taishin International Bank, President Securities as well as Bank of Taiwan, KGI Securities, Yuanta Securities and Fubon Securities acted as co-managers for the transaction.

 

 

 

TAGS : APICORP, formosa bond, Credit Agricole, HSBC, Standard Chartered, Taishin International Bank, President Securities , Bank of Taiwan

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