Abu Dhabi – Mubasher: The Abu Dhabi government has mandated a number of banks to arrange calls with fixed income investors prior to its issuance of a US dollar-denominated bond, Reuters reported on Monday, citing a document by one of the banks taking part in the issue.
“A 144A/Regulation S senior unsecured benchmark offering will follow, subject to market conditions, with maturities of five, 10 and 30 years,” Reuters said.
Abu Dhabi has so far assigned Bank of America Merrill Lynch, Citi, First Abu Dhabi Bank (FAB), HSBC, and JP Morgan as joint lead arrangers and joint bookrunners to arrange the investor calls.
The anticipated potential bond issue will be divided on to three tranches.
The emirate of Abu Dhabi is rated Aa2 by Moody‘s, AA by Standard & Poor’s, and AA by Fitch.
