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1975 | Arab Petorleum Investments Corporation APICORP is established by the Organization of Arab Petroleum Exporting Countries (OAPEC), with Mr Jamal Hassan Jawa as Chairman of the Board of Directors and Dr. Nureddin Farrag as General Manager |
1976 | APICORP's first loan financing, a US$100 million international financing of The Arab Pipeline Company (SUMED) |
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1978 | APICORP's first direct equity investment - Bahrain National Gas Company (BANAGAS) in Bahrain |
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1982 | APICORP's first loan to a non-Arab borrower with a participation in a US$200 million loan facility to the Petroleum Authority of Thailand |
1986 | Total assets reach US$1billion. The Board of Directors approves the widening of the finance activity to include trade finance |
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1990 | Mr Abdullah A Al-Zaid is appointed the Chairman of the Board of Directors |
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1991 | APICORP participates with US$ 120 million in the US$ 5,500 million loan facility arranged for The State of Kuwait. |
1992 | Equity participants in Alexandria Carbon Black Company (ACBC). Participation in the US$ 900 million loan to Vela International Marine Limited, (wholly owned by Saudi Aramco), the largest tanker acquisition finance facility ever arranged. Total loans exceed US$ 500 million. |
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1993 | First participation in an Islamic financing - US$100 million Morabaha facility for National Refinery Limited, Pakistan |
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1996 | APICORP mandated as a lead arranger of three major GCC financings:
· US$ 1,000 million senior debt facilities for Equate Petrochemical Company
· US$ 570 million upstream project financing for Qatargas
· US$ 1,350 million project finance facilities for Ras Laffan Liquified Natural Gas Company. |
1997 | APICORP's debut as a borrower in the international loan market :
· US$225 million term loan arranged by Arab Banking Corporation, The Bank of Tokyo-Mitsubishi Ltd., Deutsche Morgan Grenfell, J.P. Morgan and Union Bank of Switzerland.
· US$ 75 million term loan from Barclays Bank |
1998 | Total assets of the Corporation exceed US$1.5 billion. |
1999 | Mr Rasheed Al-Maraj becomes General Manager and Chief Executive following the retirement of Dr Nureddin Farrag. |
2000 | APICORP's third international borrowing - a US$200 million term loan arranged by Arab Banking Corporation, The Bank of Tokyo-Mitsubishi, BNP Paribas, Deutsche Bank and National Bank of Kuwait (International). |
2001 | APICORP raises a US$300 million term loan facility, arranged by Credit Agricole Indosuez, Gulf International Bank, HSBC Investment Bank, Riyad Bank and Sumitomo Mitsui Banking Corporation. Board approval granted to finance power projects. |
2002 | APICORP moves to its new Head Office on the Khobar / Dammam Coast Road. APICORP mandated as a lead arranger of Euro 2,353 million acquisition financing for Saudi Basic Industries Corporation (SABIC). APICORP mandated as a lead arranger of the US$ 1,000 million international project financing facilities for Egypt LNG. APICORP, together with Taylor-DeJongh Inc., mandated to provide financial advisory services to Saudi Petrochemical Company, Al-Jubail, a joint venture of SABIC and Shell. APICORP loan portfolio exceeds US$ 1,000 million. |
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2003 | APICORP mandated as lead arranger of the US$ 700 million financing for Oryx GTL Limited, Qatar, the first Gas To Liquids project financing in the region.” |
