Monday 18 April 2016

Abu Dhabi Plans First Bond Since 2009 as Oil Curbs Finances - Bloomberg

Abu Dhabi Plans First Bond Since 2009 as Oil Curbs Finances - Bloomberg:

"Abu Dhabi, the capital of the United Arab Emirates, is sounding out investors about plans to issue bonds for the first time in more than seven years as the government seeks to bolster its finances against a slumping oil price.
The emirate, holder of about 6 percent of the world’s oil reserves, will hold meetings with fixed-income investors in the U.A.E., Europe and the U.S. starting April 19, according to a person with knowledge of the plan. A sale of dollar-denominated benchmark-sized Regulation S and 144A securities may follow, subject to market conditions, said the person, asking not to be identified because the information is private.
Abu Dhabi is the “highest-quality” credit in the Middle East and demand for the issue will be “strong from both local as well as international investors,” Apostolos Bantis, a credit analyst at Commerzbank AG, said by e-mail from Dubai. “Despite the drop in crude prices, the collapse of the latest oil talks, Abu Dhabi’s new bond issue should manage an attractive price that will set the stage for other government-related entities to follow.”"



'via Blog this'

No comments:

Post a Comment