Saudi Arabia’s SABIC starts marketing $1bln dual-tranche bonds – document

Saudi Arabia’s SABIC starts marketing $1bln dual-tranche bonds – document

Saudi Arabia's SABIC tightens price guidance for $1bln bonds -document SABIC will sell $500mln in each tranche    A man walks past the headquarters of Saudi Basic Industries Corp in Riyadh. Image used for illustrative purpose. DUBAI - Saudi Arabia's SABIC, the world's fourth-biggest petrochemicals firm, has tightened its price guidance for a dual-tranche $1 billion bond offering and has received over $7.25 billion in orders, a document showed on Thursday.SABIC revised the price guidance to 160-170 basis points (bps) over midswaps for the 10-year tranche and between 3% and 3.125% for the 30-year Formosa tranche, a document from one of the banks arranging the deal showed.Earlier on Thursday, it began marketing the bonds at around 190 bps over midswaps for the 10-year tranche and around 3.375% for the 30-year