May 12, 2020 / 2:00 PM / 15 days ago

Mubadala launches $4 bln in three-tranche bonds - document

DUBAI, May 12 (Reuters) - Abu Dhabi’s state fund Mubadala launched $4 billion in a three-tranche bond issuance on Tuesday, for which it received more than $23.5 billion in orders, a document from one of the banks leading the issuance showed.

It sold $1 billion in six-year bonds at 210 basis points over midswaps, $1 billion in 10-year bonds at 235 bps over midswaps and $2 billion in 30-year Formosa bonds at 3.95%, the document showed.

It tightened the pricing after it had given an initial price guidance of around 250 bps over midswaps for the six-year notes, around 275 bps over midswaps for the 10-year bonds and around 4.375% for the Formosa bonds.

Reporting by Yousef Saba; Editing by Alison Williams

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