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 4532 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
Police Is the Official Eyewear in Sony Pictures' “men in Black™: International”
Discover the irresistible La Yuqawam Pour Femme Fragrance
Michael Kors Celebrates Old Bond Street Townhouse With a Series of Events
Make their Eid special this year with these perfect gifts!
An essential guide to buying fragrance
Eid Gift Guide Options
Flormar's Three Beauty Essentials for Ramadan Nights
SPF Must Haves – for everyday sun exposure!
Gift your loved ones a fragrance to remember this Eid by Rasasi Perfumes
Rado True Thinline My Bird Limited Edition'
TAG Heuer launches 2 special editions to commemorate Indy 500 race - Carrera and...
Salvatore Ferragamo Timepieces – Spring/Summer 2019 Collection'
Tissot Chrono XL NBA Collector'
6,000 worshippers prayed with Sheikh Saad bin Said Al-Ghamdi at Grand Mosque of ...
Chronoswiss Flying Regulator Night and Day Limited Edition
Carl F. Bucherer celebrates premiere of John Wick: Chapter 3 – Parabellum...
MOUAWAD: Wedding Sets 2019
First Five Cities Revealed for New Call of Duty Esports League
HONOR Has Got You Covered This Eid With Multiple Gifting Options
Dubai Customs discusses more cooperation with vegetable and fruit sector
Longchamp Eyewear Introduces a New Sunglass Style Featuring the Brand's Signatu...
V-Circle / Logomania Edition & Greca Edition
Michael Kors Co-hosts the 10th Anniversary of the Annual Filmmakers Dinner
The Ultimate Eid Gift Guide
Karl Lagerfeld and Puma Introduce Two Special-Edition Sneakers
Eberhard & Co. pays extravagant tribute to Alfa Romeo with Quadrifoglio Verde ch...
Surprise beat Dubai 2020 to reach NAS Volleyball semis, meet Bin Thani next
Shop the new Elna Line Collection at The Edit
Splash latest product images
Parmigiano Reggiano Exports to Gcc Region Soars to 105.2 Tons
Discover the soul and spirit of Ramadan at The Dubai Mall through inspiring work...
LIU JO Eyewear Presents the New Girl's Collection
Range Rover Reaches New Heights With Astronaut Edition Built to Celebrate Partn...
Carrefour Hypermarket Opens at the World's First Nature Inspired Cityland Mall
Regions' happiest workplaces revealed
Al-Futtaim Engineering & Technologies and Alcatel-Lucent Enterprise introduce cu...
Listings: Manarat AL Saadiyat
Ambassador of Nepal Visits Al Maya Supermarkets
Looking for an opportunity to volunteer this Ramadan? Join Dubai Cares' 4-day vo...
OMEGA hosts a star-filled tribute to the 50th anniversary of the first lunar lan...
Abdul Latif Jameel Energy expands role in Middle East water sector
The Luxury Closet supports Dubai Cares' global education programs
MOHAP Youth Council organizes Art Exhibition and Competition to highlight Emirat...
UAEU researcher refines literacy in the 21st century
12th Edition of ‘Eiman Oasis' to be Held at Al Qasba Mosque During Ramadan
The iconic Maserati GranTurismo joins Dubai Police luxury patrol fleet
Visit Dubai Festival City this Ramadan and Grab Exclusive Offers
Grand Opening of Prof. Sakla Spanish Eye Clinic for Eye Surgeries & Treatments i...
Samsung Becomes First TV Manufacturer to Launch The Apple TV App and AirPlay 2
Sultan bin Ahmed Al Qasimi Launches Kan Yama Kan Book Donation Campaign's fifth ...