Sunday 4 April 2010
Aabar's $2 bln convertible bonds to be issued to IPIC
Aabar Investments (AABAR.AD), which has stakes in Daimler (DAIGn.DE) and Virgin Galactic, said its planned $2 billion convertible bonds sale will be made to International Petroleum Investment Co (IPIC).
IPIC, wholly-owned by the government of Abu Dhabi, is the majority shareholder in Abu Dhabi-listed Aabar. No date has been set for the conversion, Aabar said in a statement on Sunday.
In a regulatory filing on Thursday, Aabar said it was mulling convertible bonds worth up to 7.35 billion dirhams at a conversion price of 2.5 dirhams per share.
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