Abu Dhabi: Abu Dhabi Ports has issued $1 billion 10 year bonds under its recently established Euro Medium Term Note Programme (EMTN Programme).
The bond will be jointly listed on the London Stock Exchange (LSE) and Abu Dhabi Securities Exchange (ADX).
The issuance was more than 4.5 times over-subscribed. It will mature on 6 May 2031 and carris a coupon of 2.5 per cent per annum.
Proceeds will be used for general corporate purposes and debt refinancing. The settlement of the offering is expected to occur on 6 May 2021 and is subject to customary settlement conditions.
Citi, First Abu Dhabi Bank and Standard Chartered Bank acted as Joint Global Coordinators for the transaction along with HSBC, Mizuho and Societe Generale as active Joint Lead Managers and Joint Bookrunners and BNP Paribas, Credit Agricole CIB and SMBC Nikko acted as passive Joint Lead Managers.
“Since its establishment, Abu Dhabi Ports has been fully aligned with the long-term vision of the Abu Dhabi Government, playing a pivotal role in the growth of the emirate and facilitating international trade. Today’s announcement will support both our plans for development and the wider economic diversification programme of the UAE,” said Falah Mohamed Al Ahbabi, Chairman, Abu Dhabi Ports.