Tuesday 02, October 2018 by Kudakwashe

SABIC gives initial price guidance for dual-tranche dollar bonds

 

Saudi Arabia Basic Industries Corp said that the bonds would be issued on 3 October 2018.

SABIC has started marketing five-year US dollar bonds with initial price guidance of around 140 basis points over US treasuries and 10-year bonds with a guidance of around 180 bps over that benchmark.

The size of the bond transaction will depend on market appetite, but it is said the bonds could replace a $3 billion bridge loan facility which the firm had raised at the beginning of the year.

In a statement, SABIC stated that BNP Paribas, Citi as well as HSBC, MUFG and Standard Chartered will arrange the deal.

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