Commentary & Deal Flow

GreenSaif Pipelines Bidco S.a r.l. (GASBCM) exp A1/A+ (p/s) by Moody's/Fitch, US$ benchmark 144A/Reg S 2-part sr secured fixed-rate amortizing bonds (Tranche: A: 12y final (10y WAL), Tranche B: 18y final (14.5y WAL)). JPM (B&D on 18y)/StanChart (B&D on 12y) as joint global coordinators; BofA/Citi/CACIB/Miz/SG joint active books. Passive books: ADCB/BNP/FAB/HSBC/MUFG/SMBNIK. Co-leads: ABC/BoC/CCB/Natixis/RIYCAP. Listing: LSE. Law: English Law with security documents governed by KSA, Luxembourg or English law.  Pricing 7/17. Settle 7/31 (T+8). IPTs: 12y T+205 area, 18y T+225 area.