International Petroleum Investment Co (IPIC), the investment vehicle owned by the Abu Dhabi government, will price a dual-currency three-tranche bond on Tuesday, and has released price talk for the dollar-denominated portion.
IPIC, rated AA, plans to issue a three-year dollar-denominated portion, and two euro-denominated pieces carrying maturities of 5.5 and 10.5 years, arranging banks said on Monday.
Price indications for the dollar portion was released at 2 percent, later on Monday evening. Guidance for the euro-denominated tranches is expected on Tuesday morning, London time, according to lead arrangers.
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