June 24, 2020 / 7:33 AM / 19 days ago

APICORP tightens spread for 5-yr bonds, gets over $1 bln in orders - document

DUBAI, June 24 (Reuters) - The Arab Petroleum Investments Corporation (APICORP) tightened the spread for its benchmark five-year U.S. dollar-denominated bonds and has received over $1 billion in orders for the debt sale, a document showed on Wednesday.

APICORP, a Saudi-headquartered multilateral development bank, set the final spread at 110 basis points over midswaps, tightening from initial guidance of around 130 bps over midswaps when it began marketing the sale on Tuesday. The deal is expected to close on Wednesday.

Reporting by Yousef Saba, editing by Louise Heaven

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