Apicorp tightens screws on dollar tap

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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