Abu Dhabi's government-owned Tourism Development and Investment Co (TDIC) may have to put plans on hold for a 10-year bond issue until market volatility subsides, two banking sources familiar with the matter said.
TDIC, tasked with bringing branches of the Louvre and Guggenheim museums to Abu Dhabi, completed roadshows for a potential bond sale earlier this week but there has been no indication of the company's intention since.
'TDIC is currently watching levels as they want to do a 10-year but the risk premium is too much and investors want a five-year maturity,' said a regional banker familiar with the situation.
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