DUBAI, Sept 16 (Reuters) - The Arab Petroleum Investments Corporation (APICORP), a multilateral development bank headquartered in Saudi Arabia, has hired a group of international banks to arrange an issuance of U.S. dollar-denominated green bonds with a five-year tenor, a bank document showed on Thursday.
The hydrocarbon-rich Gulf region has seen a surge of interest in environmental, social and governance (ESG)-related initiatives and deals as demand among global investors for ESG-linked opportunities grows.
Barclays (BARC.L), BofA Securities (BAC.N), Credit Agricole (CAGR.PA), HSBC (HSBA.L), JPMorgan (JPM.N), LBBW, Nomura (8604.T) and Standard Chartered (STAN.L), as joint lead managers, will arrange investor calls starting on Monday.
An issuance of benchmark size, typically at least $500 million, "will follow in the near future, subject to market conditions," said the document from one of the banks, seen by Reuters.
Credit Agricole was also appointed as green structuring advisor.
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