Regional energy investment bank Arab Petroleum Investments Corporation (Apicorp) has announced the pricing of a $750m five year bond on 11 September in the RegS/144a markets.

The transaction made in US dollars was issued under Apicorp’s newly established $3bn Global Medium Term Note (GMTN) programme, designed to strengthen the companies financial position and give it flexibility in accessing capital markets.

The transaction has been rated Aa3 by global credit ratings agency Moody’s.

Apicorp was the first corporate entity to issue in the MENA bond and sukuk market since mid-May 2018.

The order book was oversubscribed to exceed $3.5bn.

The deal is the third benchmark issue for Apicorp following its sukuk issuance in October 2017, which was issued off another $3bn RegS sukuk programme.