Adnoc active on the debt front as it pushes ahead with transformation strategy - The National

Adnoc active on the debt front as it pushes ahead with transformation strategy - The National:

"The Abu Dhabi National Oil Company is studying a number of fund raising options at both group and asset level that will help unlock value and optimise the group’s balance sheet as it pushes ahead with its new approach to drive growth. Adnoc is in discussions with banks for a club loan of approximately US$5 billion that will be used for ongoing corporate activities. It is also looking into financing options for select midstream infrastructure assets including potentially tapping debt capital markets via a bond issuance. Plans are at an early stage so the size and scope of any potential bond issuance has not been decided. The company said it has no intention to issue bonds at the holding or main operating company levels such as Adco, Adma-Opco and Zadco.  “Considering its very low gearing ratios, Adnoc is taking a more active approach to managing its capital structure to unlock value, raise long term capital, enhance returns and drive growth,” a company spokesman said. “Adnoc is therefore considering various options with regard to the potential use and issuance of debt.”"



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