ADQ takes second bond issuance to the market: Abu Dhabi’s sovereign wealth fund ADQ tapped banks to market 7-year and 30-year USD-denominated benchmark-sized bonds, Zawya reports, citing IFR. The sovereign wealth fund has set the initial pricing for the 7-year tranche at 115 bps over US Treasuries, with a guidance of 150 bps over for the 30-year tranche. The senior unsecured notes are being issued under ADQ’s global medium term note program.

ADVISORS- ADQ tapped Abu Dhabi Commercial Bank (ADCB), BofA Securities, Bank of China, BNP Paribas, FAB, JP Morgan, and Mizuho to serve as joint global coordinators and joint active bookrunners.

This marks ADQ’s second-ever dual-tranche bond issuance, following its maiden USD 2.5 bn issuance in May, which is listed on the London Stock Exchange and the ADX. The previous bond sale was 4.4x oversubscribed, attracting over USD 11 bn in orders.

REMEMBER- ADQ is looking to diversify its funding sources for future acquisitions. It has recently been exploring various regional investments, with a USD 180 mn tech-focused fund in Oman and a landmark USD 35 bn agreement with Egypt’s government back in February. It also inked agreements in Kenya worth USD 500 mn.

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