{"id":96189,"date":"2024-09-26T00:00:00","date_gmt":"2024-09-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/adq-launches-dual-tranche-issuance\/"},"modified":"2024-09-26T00:00:00","modified_gmt":"2024-09-26T00:00:00","slug":"adq-launches-dual-tranche-issuance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/09\/26\/adq-launches-dual-tranche-issuance\/","title":{"rendered":"ADQ launches dual tranche issuance"},"content":{"rendered":"

ADQ takes second bond issuance to the market:<\/strong> Abu Dhabi\u2019s sovereign wealth fund ADQ tapped banks to market 7-year and 30-year USD-denominated benchmark-sized bonds, Zawya<\/a> 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. <\/p>\n

ADVISORS- <\/strong>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.<\/p>\n

This marks ADQ\u2019s second-ever dual-tranche bond issuance<\/strong>, following its maiden USD 2.5 bn issuance in May<\/a>, which is listed on the London Stock Exchange and the ADX<\/a>. The previous bond sale was 4.4x oversubscribed, attracting over USD 11 bn in orders.<\/p>\n

REMEMBER- ADQ is looking to <\/strong>diversify its funding<\/a><\/strong> sources for future acquisitions<\/strong>. It has recently been exploring various regional investments, with a USD 180 mn tech-focused fund<\/a> in Oman and a landmark USD 35 bn agreement<\/a> with Egypt\u2019s government back in February. It also inked agreements in Kenya worth USD 500 mn<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The issuance will be the sovereign wealth fund\u2019s second<\/p>\n","protected":false},"author":1,"featured_media":96190,"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":[72,29,1391,68,7],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-96189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-adq","tag-capital-markets","tag-debt","tag-debt-watch","tag-enterpriseam-uae","wpautop","entry"],"acf":{"mongo_id":"4f06a2ba-54a1-43bb-9802-39cbf6ea0492","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 launches dual tranche issuance","related_issue":[96184],"teaser":"The issuance will be the sovereign wealth fund\u2019s second","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.74082951-f0f6-455a-8640-6efbad290115.mp3"},"yoast_head":"\nADQ launches dual tranche issuance - 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