Sabic hires banks ahead of bond issue

Saudi

Basic Industries Corp (Sabic has hired banks to arrange a series of fixedincome investor meetings ahead of a planned dualtenor US dollar-denominated bond issue, a bank document seen by Reuters showed yesterday.

The world’s fourth-largest petrochemicals company has mandated BNP Paribas and Citi as global coordinators for the issue, together with HSBC, MUFG and Standard Chartered as joint lead managers. It will meet investors in London, New York, Los Angeles and Boston starting September 25. (Reuters)