GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share

The transaction from APICORP is the third successful “Formosa” bond since its first Formosa issuance in 2016

Dubai, UAE, April 03, 2019:   The Arab Petroleum Investments Corporation (APICORP), a multilateral development bank, rated Aa3 by Moody's with a positive outlook, successfully issued its third Formosa bond after accessing this market earlier in 2016 and 2017. The Aa3 rated USD 300 million 5-year Note which matures on April 01, 2024, offers investors a floating rate coupon. 

The transaction attracted robust investor demand with order book close to three times oversubscribed, enabling APICORP to price its Formosa well within its secondary curve while also continuing to strengthen its investor access into Asia, innovate its funding profile and access efficient and cost-effective financing solutions.

Mr. Hesham Farid, Managing Director of Treasury & Capital Markets, APICORP, commented: “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 Corporate and Investment Bank, Taipei Branch, HSBC Bank (Taiwan) Limited and Standard Chartered Bank (Taiwan) Limited acted as lead managers & book runners on the trade, while Taishin International Bank, President Securities, Bank of Taiwan, KGI Securities, Yuanta Securities and Fubon Securities acted as co-managers for the transaction.

Mr. Abrar Hussain, Head of DCM MENA, Crédit Agricole Corporate and Investment Bank, said: “We are pleased to have supported APICORP once again in the Formosa market. The issuance showcases the unique nature of the credit by not only achieving overwhelming demand, but also securing attractive terms.”
Faisal Qadri, Managing Director, Head of Debt Capital Markets and Structured Finance at HSBC Saudi Arabia, added: “The strong investor appetite achieved in this transaction is a reflection of investors' confidence in APICORP's unique credit profile and their ability to access diversified funding sources. HSBC is proud to have partnered with APICORP in this journey.”

Salman Ansari, Managing Director, Head, Capital Markets, West, Standard Chartered Bank, said: “Standard Chartered is proud to be working with APICORP yet again on another landmark transaction. The resounding success of the APICORP's Formosa bond offering reflects the strong confidence investors 

have placed in APICORP's credit and growth story. The transaction further cements APICORP's strategy of becoming a regular issuer in the global markets.”



Posted by : GoDubai Editorial Team
Viewed 6070 times
Posted on : Wednesday, April 3, 2019  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : DP World, UAE Region to Unveil Door-to-door Solutions at GPCA
Next Story : ENOC Group to offer over 200 job opportunities at Careers UAE 2019
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Tonda 1950 Stone-set range'
Parmigiani Fleurier Kalpagraphe Chronometre Titanium
Toric Hémisphères Rétrograde Slate The traveller's watch featuring a new guilloc...
Special edition 2019 Ford Expedition ‘Turath' arrives in Al Tayer Motors and Pre...
Aston Martin Valkyrie Wows Crowds on Public Debut at Silverstone
Salvatore Ferragamo Timepieces – Summer 2019 Collection
Sports Collection - Autumn Winter 2019
Picnic Indoors This Summer with Marks & Spencer
Kitchen Hacks: 8 Clever Ways to Smart Storing
The Perfect Shave Kit for your Summer Travels
Ralph Lauren at The Championships, Wimbledon – Sunday 14th July
Ralph Lauren at The Championships, Wimbledon – Wednesday 10th July
Schneider Electric's Biggest Engineer-to-Order Factory in Asia Utilizes IIoT Tec...
Summer Skin Rituals with SUKIN
Peugeot announces sizzling summer offers
Union Coop Reports 20% Growth in Net Profit for the First half of 2019
Summer-ready BABY-G G-Lide BAX-100 makes splash this hot season
Purificacion Garcia Introduces the Women's FW19 Collection
Ras Al Khaimah and Singapore to Discuss the Bilateral Cooperation'
The Car That Responds to Your Mood: New Jaguar Land Rover Tech Helps Reduce Stress
OMEGA's role in competitive swimming
Automation Anywhere Expands into the Middle East with the Opening of Regional He...
Lg's Front-loader With New Ai Dd Brings Optimized Washing to the Middle East and...
Philipsen and Kristoff Claim Top 10 Spots for Uae Team Emirates in Stage 7 Sprin...
Get that beautiful hair with Vierro's Oil-Replacement range
Danube Group Expands into the Healthcare segment
The Eid Gift Guide
Ahmed Mahboob Musabih welcomes DGEP Coordinator General
All-out Sprint in Albi as Philipsen Takes Sixth and Martin Breaks Into the Gener...
Dubai launches e-statistics system for better data to clients and decision makers
Trading Enterprises – Honda makes dreams a reality this Summer
Thought-Evoking Clothing Brand Exhale Releases Limited Edition “Be” Kimono
Sony Introduces New WF-1000XM3 Truly Wireless Headphones with Industry-leading N...
Bollywood Parks™ Dubai launches all-inclusive picnic promotion from July to August
MoHAP Youth Council Discusses Mutual Cooperation with Civil Defence Youth Council
Schneider Electric Launches First Smart Factory in Mexico Implementing Innovativ...
Don't Run Risk of Damaging Your Vision With Poor Food Choices, Doctors at Moorfi...
Tashkeel announces open call for affordable design range Tanween
First results from Arc Skills' programme show how gamification can transform edu...
A charitable initiative from the ADNOC Sas Al Nakhl School brings together AED 8...
Pottery Barn Kids launches new ‘Back-to-School' collection'
Ras Al Khaimah Chamber and Ghana to Discuss the Cooperation Opportunities
LG's Groundbreaking Dualcool With Inverter Tech Delivers Performance and Energy ...
Leading Indian stand-up comedian Kunal Kamra performs to a packed house at BOLLY...
Sweet Shades of Summer at 2XL Furniture & Home Décor
Dubai-Based Schools Operator GEMS MENASA Assigned Preliminary 'B' Ratings; Outlo...
A Tribute to Karl Lagerfeld: the White Shirt Project
Doctors conduct first procedure in the UAE using donated amniotic membrane for b...
Union Coop Awarded ‘ISO Business Continuity Certificate'
UAE astronauts train at NASA's Lyndon B. Johnson Space Center