Dolphin completes refinancing

Dolphin Energy, a natural gas company based in Abu Dhabi, has finished refinancing its Dh12.66 billion (US$3.45bn) overall debt after selling $1.25bn in bonds to investors.

The project, majority-owned by Mubadala with Occidental and Total as partners, produces gas in Qatar and imports it to the UAE and Oman by pipeline.

The bond, which bankers said was almost four times oversubscribed, is the latest in a series of debt sales aimed at tapping into rising investor appetite for government-related issuances.