Order book for Mubadala bond in excess of $2.5b

London: Demand for Mubadala’s $750 million (Dh2.75 billion) eight-year bond offering is in excess of $2.5 billion, according to a source.

The price guidance remains unchanged at 145 basis points area over seven-year US Treasuries.

The state-owned fund, rated Aa3/AA/AA, is expected to price the 144a/Reg S deal later on Wednesday.

Bank of America Merrill Lynch, Credit Agricole CIB, Deutsche Bank, Goldman Sachs, HSBC and National Bank of Abu Dhabi are the bookrunners on the transaction. Goldman Sachs and HSBC are the joint global coordinators.