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A South Korean banker carries US dollar bank notes at the Korea Exchange bank in Seoul, South Korea. (Photo by Chung Sung-Jun/Getty Images) Image used for illustrative purpose.
Abu Dhabi sovereign ADQ is to issue US dollar benchmark five and 10 year-dual tranche senior unsecured notes with initial price thoughts in the UST + 115 and UST 125 areas respectively.
The sovereign, which holds a number of key Abu Dhabi Government assets including Abu Dhabi Securities Exchange (ADX), Etihad Airways and Etihad Rail in its portfolio, has released investor information for the benchmark senior unsecured 144A Reg S notes, which will be used for general corporate purposes.
The listing will be on London Stock Exchange (LSE) under ADQ’s global medium term note programme, which was launched in in 2024 with a $2.5 billion issuance on LSE.
Settlement is scheduled for 6th May.
ADQ, known as Abu Dhabi Development Holding Company until 2020, is rated Aa2 by Moody’s and AA with stable outlook by Fitch.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
