Abu Dhabi government-owned
International Petroleum Investment Company (IPIC) plans to
launch a benchmark bond to fund its growing portfolio of
investments, a senior banker with a lead arranger said on
IPIC - which has stakes in Daimler and Virgin
Galactic through its majority owned Aabar Investments - has
mandated six banks for the benchmark issue, typically at least
"It is part of their MTN programme, a normal exercise for
their funding," the banker told Reuters, speaking on condition
of anonymity. "The global roadshows start next week."
The mandated banks are HSBC, Standard Chartered, Royal Bank of Scotland, Bank of America
Merrill Lynch, Goldman Sachs and National Bank of
IPIC has an investment portfolio in excess of $14bn,
according to the company's website.For all the latest business 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.
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