Abu Dhabi's Dolphin Energy, majority-owned by state fund Mubadala, plans to raise as much as $1 billion from a ten year bond issue, with the offering set to price as early as Tuesday, a statement from lead managers said.
Proceeds from the bond issue will be used to refinance the existing bank debt belonging to the company and to also pay a distribution to Dolphin's shareholders, a presentation document to investors said.
Initial price guidance for the offering, which is benchmark-sized but earmarked for between $750 million and $1 billion, has been given at 5.75 percent, the document noted.
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