By Mary-Katherine Stinson
Lexington, Ky., April 24 – The Emirate of Abu Dhabi priced a $5 billion three-part offering of senior notes, according to a notice and information from a market source.
The $1.75 billion of 4 7/8% notes due 2029 priced at 99.601, or Treasuries plus 35 bps after initial price talk in the Treasuries plus 70 bps area.
Another $1.5 billion tranche of 5% notes due 2034 priced at 99.658, or 45 bps over Treasuries. Initial price talk came in at Treasuries plus 85 bps area.
Finally, Abu Dhabi priced $1.75 billion of 5½% notes due 2054 at 98.327, or 90 bps above Treasuries after initial price talk in the Treasuries plus 125 bps area.
The notes will be listed in both London and Abu Dhabi.
J.P. Morgan Securities plc, HSBC Bank plc, Abu Dhabi Commercial Bank PJSC, Citigroup Global Markets Ltd., First Abu Dhabi Bank PJSC, Morgan Stanley & Co. International plc and Standard Chartered Bank are the bookrunners.
| Issuer: | Emirate of Abu Dhabi
|
| Amount: | $5 billion
|
| Issue: | Senior notes
|
| Bookrunners: | J.P. Morgan Securities plc, HSBC Bank plc, Abu Dhabi Commercial Bank PJSC, Citigroup Global Markets Ltd., First Abu Dhabi Bank PJSC, Morgan Stanley & Co. International plc and Standard Chartered Bank
|
|
|
| 2029 notes
|
| Amount: | $1.75 billion
|
| Maturity: | April 30, 2029
|
| Coupon: | 4 7/8%
|
| Price: | 99.601
|
| Spread: | Treasuries plus 35 bps
|
| Price talk: | Treasuries plus 70 bps area
|
|
|
| 2034 notes
|
| Amount: | $1.5 billion
|
| Maturity: | April 30, 2034
|
| Coupon: | 5%
|
| Price: | 99.658
|
| Spread: | Treasuries plus 45 bps
|
| Price talk: | Treasuries plus 85 bps area
|
|
|
| 2054 notes
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| Amount: | $1.75 billion
|
| Maturity: | April 30, 2054
|
| Coupon: | 5½%
|
| Price: | 98.327
|
| Spread: | Treasuries plus 90 bps
|
| Price talk: | Treasuries plus 125 bps area
|
|
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