Mubadala GE Capital bonds issue oversubscribed

Dubai: Mubadala GE Capital Ltd said on Tuesday its $500 million (Dh1.8 billion) tranche of bonds was oversubscribed with orders in excess of $1.3 billion.

“This step is consistent with our long-term business strategy and funding plans, and will enable further profitable business growth.” Said Holger Laubenthal, CEO of Mubadala GE Capital.

The bond has a tenor of five years and a coupon rate of 3 per cent. The transaction achieved broad global distribution with 41 per cent of proceeds sold in North America, 32 per cent in Europe, 25 per cent in the Middle East and 2 per cent in Asia.