IslamicFinance.de

The Arab Petroleum Investments Corporation (APICORP) has launched a USD 500 million 5-year sukuk off its USD 3 billion Trust Certificate Programme. APICORP undertook extensive investor meetings at the beginning of October in Asia, in the UAE and in London. The extensive marketing explains the successful outcome which included a book in excess of USD 3.45bn from 215 investors. The final distribution was 41% MENA and 59% in Europe, Asia and off-shore US. CEO Ahmed Ali Attiga said that with over 200 investors APICORP had firmly planted its flag in the capital markets. He added that the success of this transaction was testament to APICORP’s impressive 40 year track record and Aa3 credit rating. Abrar Hussain, Head of DCM at Credit Agricole CIB, mentioned that the extensive set of investor meetings also contributed to the oversubscription of the sukuk.

Nasdaq Dubai has welcomed the listing of a $500 million Sukuk by APICORP, the development bank of the Arab world’s oil and gas industries. The transaction is APICORP’s second Sukuk listing on Nasdaq Dubai, as the first was in January 2016. The Sukuk was issued under a $3 billion Sukuk programme and is aimed at diversifying its funding sources. APICORP’s activities include equity investment, debt financing, financial advisory and energy research services. Sukuk listings in the Emirate currently totals at $52.97 billion. 11 Sukuk listings have taken place so far in 2017 on Nasdaq Dubai with a total value of $10.25 billion.

Arab Petroleum Investments Corporation (APICORP) has mandated banks to arrange a series of fixed income investor meetings ahead of a potential sukuk sale. The sale is that of a potential five-year benchmark US dollar-denominated sukuk. Meetings will start on October 19 in Riyadh and end on October 24 in London. Apicorp has hired Bank ABC, Crédit Agricole Corporate and Investment Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, KFH Capital and Standard Chartered Bank as joint lead managers and bookrunners for the planned deal.

The Arab Petroleum Investments Corporation announced the completion of an innovative Sharia-compliant financing facility for Algeria’s Oil Recovery Services. The financing was arranged in conjunction with Paris-based oil and gas private equity firm 4D Global Energy Advisors. The initial $10 million financing will act as a template for the financing of several contracts of the company.

The Arab Petroleum Investments Corporation (APICORP) announced the completion of a Shari’ah-compliant financing facility for Oil Recovery Services SAL (ORSsal) with operation in Algeria. The annual MENA Energy Investment Outlook Report issued by APICORP stated total planned energy investments in the MENA region will reach $900 billion over the next five years. According to the report, Algeria will invest $8 billion on gas as it focuses on developing its midstream sector as part of the country’s plan to expand total pipeline-network capacity by 30 per cent.

Arab Petroleum Investments Corporation (APICORP) successfully closed a three-year SR2.5 billion ($667 million) syndicated Shariah-compliant facility from four leading Saudi Arabian banks on competitive market terms.
The purpose of the facility is the retaining and increasing of its medium term funding.
Mandated lead arrangers for the facility will be leading Saudi banks Riyad Bank, Al-Rajhi Bank, Banque Saudi Fransi and The Saudi British Bank, while Riyad Bank will perform the role of Murabaha Facility Agent.