APICORP plans to issue $750 million in 5-year green bonds

APICORP plans to issue $750 million in 5-year green bonds
Barclays, BofA Securities, Credit Agricole , HSBC, JPMorgan, LBBW, Nomura and Standard Chartered are arranging the deal. (Supplied)
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Updated 29 September 2021
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APICORP plans to issue $750 million in 5-year green bonds

APICORP plans to issue $750 million in 5-year green bonds
  • The bonds will be used to finance, refinance or invest in projects linked to APICORP’s Green Finance Framework

DUBAI: The Arab Petroleum Investments Corporation (APICORP) is expected to raise $750 million in five-year green bonds on Tuesday, for which initial price guidance was around 50 basis points over mid-swaps, a document showed.

Barclays, BofA Securities, Credit Agricole , HSBC, JPMorgan, LBBW, Nomura and Standard Chartered are arranging the deal, with Credit Agricole as structuring advisor, the document from one of the banks showed.

The bonds will be used to finance, refinance or invest in projects linked to APICORP’s Green Finance Framework, which include projects in green buildings, renewable energy, and pollution prevention and control, the document showed.