May 12, 2020 / 9:55 AM / 25 days ago

Mubadala expected to sell $3 bln - $4 bln in three-tranche bonds - document

DUBAI, May 12 (Reuters) - Abu Dhabi’s state fund Mubadala was expected to sell $3 billion to $4 billion in a three-tranche bond offering and has received more than $17 billion in combined orders for the deal, a document showed on Tuesday.

Mubadala tightened its price guidance to around 220 basis points (bps) over midswaps for the six-year notes, around 245 bps over midswaps for the 10-year bonds and around 4.1% for the dual-listed 30-year Formosa bonds, the document from one of the banks leading the deal showed.

It had earlier given an initial price guidance of around 250 basis points (bps) over midswaps for the six-year tranche, around 275 bps over midswaps for the 10-year notes and around 4.375% for the 30-year Formosa bonds. The deal is expected to close later on Tuesday.

Reporting by Yousef Saba; Editing by Alison Williams

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