Arab Petroleum Investments Corp., an energy investment unit of the Organization of Arab Petroleum Exporting Countries, plans to sell a Saudi riyal-denominated benchmark-sized bond as the company expands in the kingdom.
The bond will be issued after an investors’ road-show starting in Saudi Arabia early next week, the Al-Khobar, Saudi Arabia-based company said today in an e-mailed statement. It didn’t provide the size and pricing of the bond.
Companies in Saudi Arabia, the largest Arab economy, are stepping up bond sales to finance expansion plans as the government invests to spur economic growth and build infrastructure. A five-year, $400 billion stimulus package was announced by the government in late 2008.
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