Abu Dhabi-based Dolphin Energy, a regional gas production and pipeline company, received strong demand for a new 10-year bond on Tuesday, the first benchmark-size conventional issue this year from a Gulf Arab company, two bankers familiar with the deal said.
The initial price talk for the bond had it yielding 5.75%, though one of the bankers said there's a "strong possibility" the price will tighten as a result of high demand for the debt. Dolphin aims to raise up to $1 billion with the issue.
The bond sale comes as global risk appetite has improved, despite the continuing crisis in the euro zone, triggering large rallies in the U.S. and other equity markets.
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