APICORP to sell $750 million 5-year green bonds

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The Arab Petroleum Investments Corporation (APICORP) is expected to raise $750 million in five-year green bonds on Tuesday, which sets an initial indicative price for it at about 50 basis points above average fixed and floating-interest swap rates, a document said.

The document issued by one of the banks showed that the operation is being arranged by Barclays, Bank of America Securities, Credit Agricole, HSBC, JP Morgan, LBBW, Nomura and Standard Chartered, with Credit Agricole acting as the structuring advisor.

The document, which is expected to be launched later on Tuesday, will be used to finance, refinance or invest in projects linked to APICORP’s green finance framework, which includes projects in green building, renewable energy, and pollution prevention and control.

The article “Apicorp” intends to sell green bonds worth 750 million dollars for a period of 5 years was written in Al Borsa newspaper.