APICORP issues a benchmark US$750m 5-year bond to bolster business operations

AFRICA – The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, has announced the issuance of a benchmark US$750 million dollar-denominated five-year bond in the RegS markets. The latest issuance, part of APICORP’s US$3 billion Global Medium-Term Note (GMTN) program, will bolster the corporation’s business operations. This also includes undertaking a countercyclical role in 2020 aimed at supporting the MENA energy sector in mitigating the impact resulting from the COVID-19 pandemic as well as oil price fluctuations. The issuance attracted robust and diverse investor demand, with more than…

Read More

Apicorp launches US$500m corona support package for its member countries

GLOBAL – The Arab Petroleum Investments Corporation (Apicorp), a multilateral lender, has rolled out a US$500 million support package to help clients in the energy sector continue to fund projects as the Covid-19 outbreak and oil price fluctuations challenge the industry.  The funds will be deployed to support sustainable, impact-driven utilities, renewables and petrochemicals projects, among others, Apicorp said in a statement.  The Dammam-based lender will also expand its trade finance facilities to its member countries within the broader objective of reducing the fiscal and current account pressures caused by current…

Read More