Mubadala GE Capital Seeks Investors for 144A Bond
Mubadala GE Capital PJSC, a 50:50 joint venture between General Electric and Mubadala Development Co, is setting up some roadshows to market its dollar benchmark 144A bond. Barclays and Citigroup are the global co-ordinators and joint lead managers. Other joint leader managers for the offering are HSBC, First Gulf Bank and Natixis.
The JV does not have customer deposits to back its lending operations.
Mubadala GE Capital was launched in 2008. General Electric and Mubadala each allocated US$ 4 billion in equity to the joint venture when formed. The joint venture provides unique commercial financing to companies such as equipment leasing and vendor financing.
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