Friday 18 March 2011

Abu Dhabi's Ipic uses bond funding to expand European oil refining network - The National

International Petroleum Investment Company(Ipic), the Abu Dhabi Government's strategic energy investment enterprise, has raised the equivalent of US$4.4 billion (Dh16.16bn) from a bond sale to buy Spain's Compania Espanola de Petroleos (Cepsa).

The Mena region's first euro and sterling-denominated multi-tranche bond issue will help to expand Ipic's European oil refining and petrochemicals network.

The conclusion of the two-tiered offering suggested there was still a healthy international appetite for debt backed by the Abu Dhabi Government.

No comments:

Post a Comment