RIYADH, (Reuters) – SABIC Capital, affiliated to petrochemical giant Saudi Basic Industries Corp (SABIC), plans a benchmark bond issue before the end of June, a senior executive said on Monday.
“The benchmark bond is for general corporate purposes. The roadshow starts on May 20 in London and if we like the prices we will go ahead with it,” SABIC’s Chief Financial Officier Mutlaq al-Morished told Reuters by telephone.
The bond will be registered in London, he added.
Based in the Netherlands, SABIC Capital was established in 2008 to look after the financing and the tax operations of SABIC’s investments in Europe and the United States after the acquisition of DSM Petrochemicals and GE Plastics.