Apicorp tightens screws on dollar tap

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By Mariam Meskin
03 Mar 2021

Arab Petroleum Investment Corp, the multilateral development bank headquartered in Saudi Arabia, returned to the capital markets to tap a bond it issued just last month. The dollar note saw a notable tightening in pricing.

The tap of the $750m 1.260% February 2026 Reg S senior unsecured notes was launched on Wednesday morning.

By the afternoon, final guidance reached 40bp over mid-swaps, tightened from initial price thoughts of 45bp area over mid-swaps. The size was capped at $250m while books exceeded $450m, including $125m ...

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