Arab Petroleum Investments Corp hires banks for dollar sukuk -lead

DUBAI: Arab Petroleum Investments Corporation (Apicorp) has mandated banks to arrange a series of fixed income investor meetings ahead of a potential five-year benchmark US dollar-denominated sukuk sale, a document issued by one of the banks showed on Wednesday.

A benchmark deal is usually upwards of $500 million.

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.