ADNOC pipeline investor Galaxy mandates banks for planned bond sales - document

Galaxy has mandated Citigroup and HSBC as global coordinators

  
Image used for illustrative purpose. General view of the Borouge petrochemical facility at ADNOC's Ruwais Industrial Complex in Ruwais, United Arab Emirates May 14, 2018.

Image used for illustrative purpose. General view of the Borouge petrochemical facility at ADNOC's Ruwais Industrial Complex in Ruwais, United Arab Emirates May 14, 2018.

REUTERS/Christopher Pike

DUBAI  - Galaxy Pipeline Assets, which is owned by a consortium of investors that took a stake in ADNOC's gas pipeline assets, has mandated banks for sale of triple-tranche dollar bonds, a document showed.

Galaxy has mandated Citigroup and HSBC as global coordinators, while BNP Paribas, First Abu Dhabi Bank, Mizuho, MUFG and Standard Chartered Bank will be joint bookrunners to organise fixed-income investor calls across the United States, Europe, Asia and the Middle East, starting on Oct. 22.

It plans to issue U.S. dollar fixed-rate bonds comprising maturities of up to 20 years, according to the document, seen by Reuters, which was issued by one of the banks mandated for the deal.

The issuer is owned by a consortium of investors including GIP, Brookfield, Singapore sovereign wealth fund GIC, European gas infrastructure owner and operator SNAM.

It has a 47.7% stake in ADNOC Gas Pipeline Assets LLC after signing a $10 billion deal with ADNOC in June. That acquisition was backed by a bridge loan of about $8 billion.

(Reporting by Saeed Azhar; Editing by Mark Potter) ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))