Emirates Aluminium, a joint venture between Abu Dhabi's Mubadala and Dubai Aluminium, has mandated three banks for a bond issue up to $1 billion, two banking sources familiar with the matter said on Tuesday.
Emal has picked Goldman Sachs, Citigroup and local lender Abu Dhabi Commercial Bank, the sources said, declining to be identified.
The bond is expected to be a part of a $4 billion financing package for a smelter expansion.
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