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Abu Dhabi state-controlled fund ADQ has mandated banks to market USD-denominated dual-tranche 7-year and 30-year benchmark debt, IFR reported on Wednesday.
The sovereign investor has set initial price thoughts for the 7-year debt at 115 basis points over US Treasuries (UST), while the guidance for the 30-year tranche is 150 bps over.
The senior, unsecured notes are issued under ADQ’s Global Medium Term Note Programme.
Abu Dhabi Commercial Bank, BofA Securities, Bank of China, BNP Paribas, First Abu Dhabi Bank, JP Morgan, Mizuho are joint global coordinators and joint active bookrunners.
In April, the fund raised $2.5 billion from the sale of dual-tranche bonds. The 5-year tranche was priced at 80 bps over UST while the 10-year was 90 bps over.
(Writing by Brinda Darasha; editing by Seban Scaria)
