Mubadala Said to Mandate Citi, JPMorgan, BofAML for Bond Sale - Bloomberg

Mubadala Said to Mandate Citi, JPMorgan, BofAML for Bond Sale - Bloomberg:

"Mubadala Development Co., the Abu Dhabi government-owned investment company, hired banks for its first dollar-bond sale since 2014, two people with knowledge of the plan said.
The company mandated Citigroup Inc., JPMorgan Chase & Co. and Bank of America Corp’s Merrill Lynch unit to arrange the benchmark-sized offering, said the people, asking not to be identified because the information isn’t public yet. The sale process may begin as early as next week, one of the people said. A benchmark-sized issue usually raises $500 million or more.
Mubadala’s possible debt offering comes after Abu Dhabi, capital of the United Arab Emirates and holder of about 6 percent of the world’s oil reserves, raised $5 billion from the sale of five and 10-year securities this week, its first sale in seven years. Mubadala, which has the third-highest investment grade rating at Moody’s Investors Service, last sold bonds in April 2014 when it raised $750 million.
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