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Wed 27 Apr 2016 04:41 PM

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Mubadala said to plan bond issue soon, picks banks

Sources say Abu Dhabi state-owned investment fund's bond will likely be at least $500m

Mubadala said to plan bond issue soon, picks banks

Abu Dhabi state-owned investment fund Mubadala has chosen banks to arrange a dollar-denominated bond issue, two sources said on Wednesday.

A transaction could be announced to the market "soon", the sources said, speaking on condition of anonymity as the information isn't yet public.

A third source said the planned transaction would be of benchmark size - traditionally understood to mean upwards of $500 million.

A spokesman for Mubadala declined to comment.

Mubadala's bond plans will follow the Abu Dhabi government's own deal. The sovereign sold a $5 billion two-part bond on Monday, split equally between portions lasting five and ten years.

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