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Tue 9 Nov 2010 04:49 PM

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Abu Dhabi's IPIC sets guidance for dual-tranche bond

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

Abu Dhabi's IPIC sets guidance for dual-tranche bond
ABU DHABI COMPANY: IPIC - which has stakes in Daimler and Virgin Galactic through its majority-owned Aabar Investments

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.