Abu Dhabi Development Holding Company (ADQ), a UAE sovereign fund, has completed the secondary listing of its $2.5 billion bond on the Abu Dhabi Securities Exchange (ADX).

The bond was first listed on the London Stock Exchange (LSE) in April 2024.

The dual-tranche bond comprises a five-year $1.25 billion tranche and a 10-year $1.25 billion tranche.

The bond issuance was oversubscribed 4.4 times, reflecting investor confidence in ADQ’s credit profile, as well as Abu Dhabi's economic stability and prospects. 

Following the new listing, the number of debt instruments listed on ADX reached 60, according to an ADX statement on Thursday.

As of July 2024, ADQ’s eight portfolio companies are listed on ADX, namely TAQA, AD Ports Group, Agthia Group, Emirates Steel Arkan, PureHealth, E7 Group, Modon Holding, and Abu Dhabi Aviation. 

(Editing by Seban Scaria seban.scaria@lseg.com)