Commentary & Deal Flow

Arab Petroleum Investments Corp (APICOR) exp Aa2/NR/AA US$750m (no grow) 144A/Reg S with reg rights 5y sr unsec green bond due 10/6/26. Barc/BofA/CACIB/HSBC/JPM/LBBW/Nomura/SCB (B&D) as joint leads. Credit Agricole CIB as Green Structuring Advisor. List Dublin. English Law. UOP: To finance, refinance and/or invest in whole or in part, new or existing projects under development and/or projects in operation in accordance with APICORP’s Green Finance Framework, which include the following eligible green categories: Renewable energy, Pollution prevention and control and Green buildings. Pricing expected 9/29. Settle 10/6.

IPTs: MS+50 area.

FINAL PRICE GUIDANCE: MS+40-45.

LAUNCHED: $750m 5y Green at MS+40.