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Saudi Arabia's SABIC starts marketing $1 billion dual-tranche bonds
Reuters
Last Updated IST
 Representative Image. Credit: Reuters Photo
Representative Image. Credit: Reuters Photo

Saudi Basic Industries Corp , the world's fourth-biggest petrochemicals firm, started marketing a $1 billion dual-tranche bond offering on Thursday consisting of 10-year bonds and 30-year Formosa bonds, a document showed.

SABIC will sell $500 million in each tranche. It gave initial price guidance of around 190 basis points (bps) over midswaps for the 10-year tranche and around 3.375 per cent for the 30-year Formosa notes, according to a document from one of the banks arranging the deal, which is expected to close later on Thursday.

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(Published 03 September 2020, 14:24 IST)