The Arab Petroleum Investments Corporation, APICORP, a multilateral development bank based in Saudi Arabia, has mandated Bank ABC, Credit Agricole Corporate and Investment Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, KFH Capital and Standard Chartered Bank, to act as Joint Lead Managers/Joint Bookrunners, to arrange a series of fixed income investor meetings commencing today, 19th October.

Today’s investor meetings in Riyadh will be followed by others in Abu Dhabi and Dubai on Sunday 22nd October and in London on 23rd and 24th October. Sale of a fixed rate regulations US$ Benchmark 5 year Sukuk bond will follow subject to market conditions, a statement on the APICORP website said.

It would be the second sale of Islamic-compliant Sukuk debt by APICORP, which is owned by the ten member states of the Organisation of Arab Petroleum Exporting Countries, OAPEC, and was established in 1975. A US$ 500 million Sukuk was issued in 2015.