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A week after pricing a $750 million 10-year bond at UST+55bps, Mamoura Diversified Global Holding (MDGH) is marketing a UAE dirham benchmark five-year bond at an initial price guidance of 4.45%.
The Regulation S senior unsecured bond will be 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.
(Writing by Bindu Rai, editing by Seban Scaria)
