Saudi-based APICORP picks 4 banks for international sukuk issue

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By Archana Narayanan and David French DUBAI, June 30 (Reuters) - Saudi Arabia-based Arab Petroleum Investments Corp (APICORP) has mandated four banks for a debut international sukuk issue this year, according to sources, in what could be the first overseas debt offer from the kingdom in over a year. The company picked Standard Chartered, First Gulf Bank, NCB Capital and GIB Capital to arrange the debut sukuk, two sources with k**wledge of the deal said, speaking on condition of a**nymity as the information is private. One of the sources said APICORP might add more banks before pressing ahead with the transaction.

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