ADQ, Abu Dhabi's Smallest Sovereign Wealth Fund, Successfully Lists $2.5 Billion Dual-Tranche Bond on London Stock Exchange
Summary:
Abu Dhabi's smallest sovereign wealth fund, ADQ, announced the successful listing of a $2.5 billion dual-tranche bond on the London Stock Exchange.
The fund sold two portions of the bond: a $1.25 billion five-year tranche priced at 80 basis points over US Treasuries and a $1.25 billion 10-year tranche priced at 90 basis points over the same benchmark, according to IFR, a fixed income news service.
Citigroup, Credit Agricole, First Abu Dhabi Bank, Goldman Sachs International, HSBC, and Standard Chartered acted as joint global coordinators and active bookrunners for the bond issuance deal.
The oversubscribed bond sale, which attracted more than 4.4 times the required demand, will enable ADQ to diversify its funding mix, strengthen its financial resilience, and contribute to its growth capital.