Riyadh — The Arab Energy Fund (TAEF), formerly known as APICORP, a leading multilateral impact financial institution focused on the MENA energy sector, has completed a $600 million long 5-year issuance, priced at SOFR +75bps.
This transaction represents The Arab Energy Fund’s fourth successful public benchmark issuance in 2025, underscoring its robust credit profile and its status as a frequent and trusted issuer in global capital markets.
The bond, maturing in February 2031, was priced inside secondary levels despite extremely busy primary markets, with more than 40 trades announced globally around the same time. The transaction achieved 10bps of tightening during the book-building process, and around 20bps inside prevailing secondary trading levels.
“This issuance is a testament to investors’ confidence in The Arab Energy Fund’s solid credit profile. Their continued trust has enabled us to reprice our curve in line with our funding strategy,” said Vicky Bhatia, Chief Finance Officer, The Arab Energy Fund.
The deal attracted a sizeable peak orderbook, which was twice the planned issuance size, enabling an upsizing to $600 million. Demand was anchored by a high-quality and diversified investor base, including central banks, sovereign wealth funds, supranational institutions, and agencies. Consistent with The Arab Energy Fund’s previous issuances, the transaction achieved broad geographic participation and strong support from both MENA and international investors.