International Petroleum Investment Co picks banks to arrange meetings with investors next week
Abu Dhabi's International Petroleum Investment Co (IPIC) has picked banks to arrange fixed income meetings with investors in London next week.
BNP Paribas , Goldman Sachs, Societe Generale and UBS were hired to arrange the fixed income meetings in London on Tuesday and Wednesday, arranging banks said in a document seen by Reuters.
A global conference call with fixed income investors is expected to be held on June 14. The investment firm is fully owned by the government of Abu Dhabi.
IPIC, whose current investments include major stakes in Austrian oil group OMV and Spain's Cepsa , has embarked on an aggressive acquisition drive in the hydrocarbons sector in recent years.
IPIC issued $4.3 billion sterling and euro-denominated bonds in March.
The firm said it saw its assets rise 15 percent in 2010.
Spreads have been tightening in the United Arab Emirates, shielded from the regional political unrest, making market conditions attractive for potential issuers to tap global debt markets amid strong appetite for regional credits.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.