October 2, 2018 / 3:21 PM / in 18 days

SABIC to issue $2 billion dual-tranche bond

DUBAI, Oct 2 (Reuters) - Saudi Basic Industries Corp (SABIC) set the final spreads for a planned dual-tranche U.S. dollar bond expected to be worth $2 billion, a bank document seen by Reuters on Tuesday showed.

The company will offer 115 basis points over U.S. Treasuries for five-year bonds and 155 bps over the benchmark for 10-year notes.

The deal, which is expected to price later on Tuesday, received orders in excess of $9 billion, the document showed. (Reporting by Davide Barbuscia Editing by Edmund Blair)

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