Abu Dhabi's International Petroleum
Investment Co (IPIC) has set price guidance for its dual-tranche
dollar-denominated benchmark sized bond, three sources said on
Tuesday, with pricing expected this week.
Guidance for the five-year tranche is seen at 212.5 basis
points over US Treasuries and at 260 points over U.S
Treasuries for the 10-year tranche, a note sent by the
bookrunners, and seen by Reuters, showed.
IPIC - which has stakes in Daimler and Virgin
Galactic through its majority-owned Aabar Investments -
mandated six banks for the benchmark issue, typically at least
$500m, earlier this month.
These are HSBC, Standard Chartered, Royal
Bank of Scotland, Bank of America Merrill Lynch,
Goldman Sachs and National Bank of Abu Dhabi.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.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.