Mubadala Sells $4 Billion in 3 Tranches
Posted on 05/12/2020
Mubadala Investment Company sold US$ 4 billion in three-tranche bonds. US$ 1 billion came from 6-year bonds at 210 basis points over midswaps, while another US$ 1 billion was in a 10-year tenure at 235 basis points above midswaps. The US$ 2 billion came from 30-year dual-listed Formosa bonds at 3.95%. Institutional investors in fixed income are hungry for high-quality GCC players who are raising debt. A Formosa bond is a bond issued in Taiwan but denominated in a currency other than the New Taiwan Dollar. All three tranches will be listed on the London Stock Exchange (LSE) and the Formosa tranche will also be listed on the Taipei Exchange.
In addition, Kuwait’s Equate Petrochemical Company is launching a bond sale as well.
