Mubadala markets 10-year dollar bond

DUBAI: Abu Dhabi’s Mubadala is marketing a 10-year US dollar-denominated bond issue with an initial price guidance of around 150 basis points over mid-swaps, a document by one of the banks leading the deal showed.

The senior unsecured bond will be of benchmark size, which generally means upwards of $500 million (Dh1.84 billion), and proceeds will be used for general corporate purposes.

Mubadala Development Company, a state investment fund, is rated A2 by Moody’s, and AA by S&P and Fitch.

BNP Paribas, Citi, First Abu Dhabi Bank, Natixis and Standard Chartered are arranging the debt sale, which will be finalised later on Wednesday, according to the document.

— Reuters