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Mubadala gives guidance for dual tranche dollar bond

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DUBAI: Abu Dhabi’s state-owned fund Mubadala has released initial price guidance for its planned dual-tranche US 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 said 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. — Reuters


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