Abu Dhabi sovereign wealth fund Mubadala has debuted USD 1 bn 10-year sukuk at 70 basis points over US treasuries, according to a document seen by Reuters. This was tightened from an initial guidance of 100 bps over treasuries, after pooling some USD 7 bn in orders, the document said.

Background: The issuance — which is the first Sharia-compliant issuance for Mubadala — was issued through its subsidiary, Mamoura Diversified Global Holding (MDGH), as part of MDGH Sukuk Limited's newly established trust certificate issuance program.

ADVISORS- Our friends at HSBC, alongside Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank (FAB), are global coordinators for the issuance. Abu Dhabi Islamic Bank, BOFA Securities, Citi, Emirates NBD Capital, Mitsubishi UFJ Financial Group, and Standard Chartered Bank were selected as the joint lead managers and bookrunners for the issuance.

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