DUBAI, April 9 Abu Dhabi’s government-owned fund
Mubadala will raise in excess of $1 billion with a dual-tranche
dollar bond, banking sources close to the matter said on Sunday.
The bond issuance, with tranches of seven and 12 years, is
expected to be of benchmark size for each tranche, the sources
said. Benchmark bonds are traditionally meant to be upwards of
A Mubadala spokesman declined to comment.
Barclays, HSBC, Natixis, National Bank of Abu Dhabi, SMBC
Nikko and Standard Chartered are the joint lead managers and
bookrunners for the new deal.
The company started pre-marketing the potential transaction
to investors last Friday and will have a global investor call on
April 10, the bankers said. The deal is expected to price as
early as April 11.
Mubadala is merging with Abu Dhabi-owned International
Petroleum Investment Company (IPIC). It said last January that
the merged entity will have assets of about $125 billion.
(Reporting by Davide Barbuscia; Editing by Stephen Powell)