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|31 October, 2018

Abu Dhabi's Mubadala markets 10-year dollar bond

Mubadala is marketing a 10-year U.S. dollar-denominated bond issue with an initial price guidance of around 150 basis points over mid-swaps

Joey Geadah, bonds market

Joey Geadah, bonds market

DUBAI  - Abu Dhabi's Mubadala is marketing a 10-year U.S. dollar-denominated bond issue with an initial price guidance of around 150 basis points over mid-swaps, a document by one of the banks leading the deal showed.

The senior unsecured bond will be of benchmark size, which generally means upwards of $500 million, and proceeds will be used for general corporate purposes.

Mubadala Development Company, a state investment fund, is rated A2 by Moody's, and AA by S&P and Fitch.

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BNP Paribas, Citi, First Abu Dhabi Bank, Natixis and Standard Chartered are arranging the debt sale, which will be finalised later on Wednesday, according to the document.

(Reporting by Davide Barbuscia Editing by Alison Williams) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))