Mubasher: The Arab Petroleum Investments Corporation (APICORP) launched the first 5-year “Formosa” bond worth SAR 1.126 billion ($300 million) from Saudi Arabia, targeting investors in Taiwan.
Credit Agricole CIB acted as the lead manager on the trade.
The Formosa bond, also known as a Taiwan foreign-denominated international bond, is listed on the International Board of the Taipei Stock Exchange.
This action was important for APICORP to continue to diversify its investor base and sources of funding, according to Hesham Farid, Head of Treasury and Capital Markets.
