Arab petroleum investments corp has printed a maiden offering of five-year floating Formosa bonds of US$300m, priced at 115bp over three-month Libor. Bank of Taiwan, Credit Agricole, Capital Securities, Cathay United Bank, Mega Bank, President Securities and Sinopac Securities were mandated on the offering. The notes from the Saudi Arabian financial institution are expected to score a Aa3 rating from Moody's.
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