New Issue: Investment Corp. of Dubai prices $600 million bonds due April 2026

By Rebecca Melvin

New York, Oct. 21 – Investment Corp. of Dubai priced $600 million of long five-year bonds at par with a coupon of 3.223% to yield mid-swaps of 275 basis points, according to a syndicate source on Wednesday.

ICD Funding Ltd. was issuer of the bonds.

The joint lead managers and bookrunners of the Regulation S deal were Citigroup, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JPMorgan and Standard Chartered Bank.

The company is a sovereign wealth fund.

Issuer:	ICD Funding Ltd.
Guarantor:	Investment Corp. of Dubai
Amount:	$600 million
Description:	Bonds
Maturity:	April 28, 2026
Bookrunners:	Citigroup, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JPMorgan and Standard Chartered Bank
Coupon:	3.223%
Price:	Par
Yield:	3.223%
Spread:	Mid-swaps plus 275 bps
Trade date:	Oct. 21
Settlement date:	Oct. 28
Distribution:	Regulation S

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