{"id":91472,"date":"2024-04-30T00:00:00","date_gmt":"2024-04-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/adq-to-sell-first-usd-denominated-bonds\/"},"modified":"2024-04-30T00:00:00","modified_gmt":"2024-04-30T00:00:00","slug":"adq-to-sell-first-usd-denominated-bonds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/","title":{"rendered":"ADQ to sell first USD-denominated bonds"},"content":{"rendered":"

ADQ mulls inaugural benchmark-sized USD bond issuance:<\/strong> Abu Dhabi sovereign wealth fund ADQ is reportedly selling its first dual tranche USD-denominated benchmark size senior unsecured bonds with tenors between five and 10 years, Bloomberg<\/a> and Reuters<\/a> reported, citing people familiar with the matter. A global investor call reportedly took place yesterday to discuss the debut offering. A \u201cbenchmark sized\u201d issuance is usually at a minimum valued at USD 500 mn.<\/p>\n

ADQ \u2014 the smallest Abu Dhabi wealth fund \u2014 is looking to diversify its funding sources for future acquisitions<\/strong>, according to one of the sources. ADQ has recently been exploring various regional investments, with agreements in Kenya worth USD 500 bn<\/a>, and has initiated a USD 180 mn tech-focused fund in Oman<\/a>. The wealth fund also made a landmark USD 35 bn<\/a> agreement with Egypt\u2019s government back in February.<\/p>\n

The offering comes one week after Abu Dhabi\u2019s <\/strong>first eurobond sale<\/a><\/strong> in three years<\/strong>, raising around USD 5 bn in one of the biggest emerging market transactions of the year, according to Bloomberg. Companies under Abu Dhabi\u2019s ownership had around USD 113 bn in outstanding debt by the end of 2023, according to the bond prospectus.<\/p>\n

How much does ADQ own?<\/strong> The wealth fund, chaired by Sheikh Tahnoon bin Zayed Al Nahyan, manages around AED 720.5 bn (USD 196 bn) worth of assets, with stakes in Emirates Water and Electricity Company, Emirates Nuclear Energy Corporation, Etihad Airways, and Abu Dhabi Airports.<\/p>\n

A glimpse into ADQ\u2019s financials: <\/strong>The wealth fund saw its net income rise to AED 16.1 bn in 2023, up from AED 11.43 bn in 2022, Reuters reports, citing a financial statement. Its revenues amounted to AED 111.7 bn. <\/p>\n

Advisors:<\/strong> Our friends at HSBC Holdings and First Abu Dhabi Bank, alongside Citigroup, Cr\u00e9dit Agricole CIB, Goldman Sachs International, and Standard Chartered will act as joint global coordinators and active bookrunners, according to Reuters and Bloomberg. <\/p>\n

OTHER DEBT NEWS-<\/p>\n

Bank of Sharjah served as joint lead manager and bookrunner in a USD 300 mn <\/strong>5.5-year sukuk for Kuwait International Bank (KIB)<\/strong>, along with other international and regional lenders, according to a press release<\/a>. This issuance, which concluded over 195 basis points above US treasuries, is the first USD Additional Tier 1 (AT1) issuance from Kuwait since 2021 and is KIB\u2019s third USD-denominated debt issuance. The issuance witnessed substantial demand, hitting a 2.2x oversubscription rate.<\/p>\n","protected":false},"excerpt":{"rendered":"

The USD-denominated issuance would help fund future acquisitions<\/p>\n","protected":false},"author":1,"featured_media":91473,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1546],"tags":[72,844,1391,68,7,1344,66],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-adq","tag-bank-of-sharjah","tag-debt","tag-debt-watch","tag-enterpriseam-uae","tag-ma","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"5bde87eb-fb4c-4146-9851-d96c222dfdcb","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/2147.jpg","photo_position":"above","homepage_title":"","full_issue_title":"ADQ to sell first USD-denominated bonds","related_issue":[91468],"teaser":"The USD-denominated issuance would help fund future acquisitions","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.6593aa67-8ca2-4704-8315-be4f9aaa3a06.mp3"},"yoast_head":"\nADQ to sell first USD-denominated bonds - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ADQ to sell first USD-denominated bonds\" \/>\n<meta property=\"og:description\" content=\"The USD-denominated issuance would help fund future acquisitions\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-30T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2147.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"ADQ to sell first USD-denominated bonds\",\"datePublished\":\"2024-04-30T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/\"},\"wordCount\":384,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2147.jpg?fit=%2C&ssl=1\",\"keywords\":[\"ADQ\",\"Bank of Sharjah\",\"debt\",\"DEBT WATCH\",\"EnterpriseAM UAE\",\"M&A\",\"Sukuk\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/\",\"name\":\"ADQ to sell first USD-denominated bonds - UAE\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2147.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-04-30T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2147.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2147.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/uae\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ADQ to sell first USD-denominated bonds\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"name\":\"UAE\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\",\"name\":\"UAE\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42998.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42998.svg\",\"caption\":\"UAE\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"ADQ to sell first USD-denominated bonds - UAE","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/","og_locale":"en_US","og_type":"article","og_title":"ADQ to sell first USD-denominated bonds","og_description":"The USD-denominated issuance would help fund future acquisitions","og_url":"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/","og_site_name":"UAE","article_published_time":"2024-04-30T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2147.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"ADQ to sell first USD-denominated bonds","datePublished":"2024-04-30T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/"},"wordCount":384,"publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2147.jpg?fit=%2C&ssl=1","keywords":["ADQ","Bank of Sharjah","debt","DEBT WATCH","EnterpriseAM UAE","M&A","Sukuk"],"articleSection":["DEBT WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/","url":"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/","name":"ADQ to sell first USD-denominated bonds - UAE","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2147.jpg?fit=%2C&ssl=1","datePublished":"2024-04-30T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2147.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2147.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/uae\/2024\/04\/30\/adq-to-sell-first-usd-denominated-bonds\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/uae\/"},{"@type":"ListItem","position":2,"name":"ADQ to sell first USD-denominated bonds"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/uae\/#website","url":"https:\/\/enterpriseam.com\/uae\/","name":"UAE","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/uae\/#organization","name":"UAE","url":"https:\/\/enterpriseam.com\/uae\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42998.svg","contentUrl":"https:\/\/ent.news\/internal\/42998.svg","caption":"UAE"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2147.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2147.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2147.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/91472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/comments?post=91472"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/91472\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue\/91468"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media\/91473"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media?parent=91472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/categories?post=91472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/tags?post=91472"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/brand?post=91472"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=91472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}