Guidance for the five-year tranche is seen at 212.5 basis points over US Treasuries
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.