The Arab Petroleum Investments Corporation (APICORP) has listed its inaugural CNH 630 million dim sum bond on the Main Securities Market (MSM) of the Irish Stock Exchange (ISE). APICORP is the first ever supranational issuer from Africa and Middle East (MEA) region to list a dim sum bond. The dim sum bond will pay a profit rate of 4.7% per annum and has a maturity date in March 2021.
About APICORP
APICORP was created by the Organisation of Arab Petroleum Exporting Countries (OAPEC) in 1975 as a commercially-focused financial institution to provide financing options to the Arab energy industry.
APICORP’s offering includes equity investment, debt financing, financial advisory and energy research services.
With 31k bonds, the ISE is world-leading exchange for total and new bond listings
Statistics from the World Federation of Stock Exchanges (WFE) show that the ISE is ranked as the #1 exchange worldwide for bond listings and also led the world in terms of total new listings in 2017. At the end of February 2018 the ISE had over 31,000 debt securities listed representing 90 countries around the world. The ISE offers two markets for listing debt, the MSM and the Global Exchange Market.
- Details of APICORP’s dim sum bond listing
- APICORP’s listing particulars
- Link to press release from APICORP on the dim sum bond
Background
About dim sum bonds
A dim sum bond is a bond denominated in Chinese yuan and issued in Hong Kong. Dim sum bonds are attractive to foreign investors who desire exposure to yuan-denominated assets, but are restricted by China's capital controls from investing in domestic Chinese debt. The issuers of dim sum bonds are largely entities based in China or Hong Kong and occasionally foreign companies.
