DUBAI, April 11 Abu Dhabi's state-owned fund
Mubadala has released initial price guidance for its planned
dual-tranche U.S. dollar bond in the 125 basis points over
mid-swaps area for the seven-year tranche and in the 165 bps
over mid-swaps area for the 12-year tranche, bankers on the
deal said on Tuesday.
The bond, which is the first debt issuance by the fund after
it merged with fellow fund IPIC, is expected to exceed $1
billion in size, bankers told Reuters earlier this week.
Price guidance is expected to tighten by 15 to 30 bps in the
next few hours ahead of the bond launch, one banker familiar
with the matter said.
Mubadala's latest bond was a $500 million,
seven-year issuance last year.
Barclays, HSBC, Natixis, National Bank of Abu Dhabi, SMBC
Nikko and Standard Chartered are the joint lead managers and
bookrunners for the new deal.
Mubadala is rated AA2 by Moody's, and AA by both Fitch and
Standard & Poor's.
(Reporting by Davide Barbuscia and Stanley Carvalho, editing by