Reuters logo
Abu Dhabi Financial Group plans $100 mln private bond sale -sources
September 19, 2017 / 6:47 AM / 3 months ago

Abu Dhabi Financial Group plans $100 mln private bond sale -sources

DUBAI, Sept 19 (Reuters) - 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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below