Private placement would come at a relatively calm time in the Gulf's debt capital markets
DUBAI - Abu Dhabi Financial Group (ADFG), a privately owned investment company with over $5 billion of assets under management, is considering issuing $100 million in debt through a privately placed bond, sources familiar with the matter said.
The private placement, with a three-year tenor according to the sources, would come at a relatively calm time in the Gulf's debt capital markets, which have seen little to no issuance over the summer months.
The lull was interrupted last week by a $3 billion debt sale by Bahrain, which is to be followed this week by a dollar bond sale by Saudi Arabia's Islamic Development Bank. But corporate issuances have been rarer, with the latest being a $375 million bond by United Arab Emirates' Topaz Marine last July.
ADFG declined to comment.
The company, which has invested in real estate in London and Eastern Europe, operates in a range of financial areas including investment banking, asset management, private equity, and it also lends directly to the small and medium enterprises sector.
It typically invests between $50 million and $500 million, according to its website.
(Reporting by Davide Barbuscia; additional reporting by Stanley Carvalho in Abu Dhabi; editing by Jason Neely) ((Davide.Barbuscia@thomsonreuters.com;))