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Abu Dhabi sovereign investment firm Mamoura Diversified Global Holding (MDGH) has priced its 1 billion UAE dirhams ($272 million) benchmark five-year Reg S bond on par, with a coupon rate of 4.20%.
The price was tightened from an initial price guidance of 4.45%.
Investor demand drove orderbooks in excess of AED 4.7 billion, excluding JLM interest.
The senior unsecured bond has been issued by MDGH GMTN and guaranteed by Mamoura, with a settlement date of October 23.
The expected rating is AA by Fitch, in line with the guarantor’s Aa2/AA/AA rating.
Banks mandated include Abu Dhabi Commercial Bank, Bank of China, Citigroup, Emirates NBD Capital, First Abu Dhabi Bank, Goldman Sachs International, HSBC, Industrial and Commercial Bank of China, National Bank of Kuwait and Standard Chartered as joint lead managers and bookrunners.
The bond will be listed on the London Stock Exchange Main Market.
MDGH, a wholly owned company of Abu Dhabi’s sovereign wealth fund Mubadala, issued a 10-year dollar-bond less than 10 days ago, raising $750 million at a price of 55 basis points over US Treasuries.
(Writing by Bindu Rai, editing by Daniel Luiz)
