Sabic Capital, affiliated to petrochemicals giant Saudi Basic Industries Corp (Sabic), plans a benchmark dollar bond issue before the end of June, a senior executive told Reuters on Monday.

Ratings agency Moody's assigned the bond an A+ rating on Monday and said it understood it would be used to refinance or repay debt at Sabic Innovative Plastics Holding, the renamed GE Plastics.

Sabic Innovative Plastics raised $1.5 billion from a bond issue in August 2007. 'The benchmark bond is for general corporate purposes. The roadshow starts on May 20 in London and if we like the prices we will go ahead with it,' Sabic's chief financial officer Mutlaq al-Morished said.-Reuters