October 25, 2017 / 5:44 AM / a year ago

Arab Petroleum Investments Corp gives initial price guidance for dollar sukuk - lead

DUBAI, Oct 25 (Reuters) - Arab Petroleum Investments Corporation (APICORP) has given initial price guidance for its planned five-year U.S. dollar-denominated sukuk in the 125 basis points over five-year mid-swaps area, a document by one of the banks leading the deal showed on Wednesday.

The benchmark deal - which ususally mans upwards of $500 million - is expected to price later on Wednesday.

APICORP, a multilateral development bank headquartered in Saudi Arabia rated Aa3 by Moody’s, has hired Bank ABC, Crédit Agricole Corporate and Investment Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, KFH Capital and Standard Chartered Bank to lead manage the deal. (Reporting by Davide Barbuscia)

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