Tuesday 28 June 2011

Abu Dhabi's Dolphin Energy delays $1.9 bln bond issue | Reuters

Dolphin Energy completed investor meetings for a 144a benchmark dollar bond last week, and was expected to indicate guidance shortly thereafter, but the Eurozone debt crisis and uncertainty surrounding Greece has made investors nervous over any new debt coming onto the market.

Abu Dhabi's Dolphin Energy Limited, 51 percent owned by state fund Mubadala, has delayed plans for an immediate bond issue due to market conditions, leads said on Tuesday.

The bond sale was expected to raise as much as $1.93 billion to refinance existing debt.


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