SABIC tightens price guidance for dollar bonds | Reuters:
Saudi Basic Industries Corp has tightened price guidance for its planned U.S. dollar bond issue to 125 basis points over U.S. Treasuries for a five-year tranche and 165 bps over for a 10-year tranche, according to a bank document seen by Reuters.
SABIC, rated A1 by Moody’s and A-(minus) by S&P, is planning to issue the 144A/Regulation S bonds through SABIC Capital II B.V, a special purpose vehicle.
It received orders of $5.5 billion, the document showed.
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