New Issue: Mubadala prices $500 million 2¾% seven-year notes at mid-swaps plus 150 bps

By Christine Van Dusen

Atlanta, May 10 – Abu Dhabi-based holding company Mubadala Development Co. PJSC priced a $500 million issue of 2¾% seven-year notes (Aa2/AA/AA) at 99.332 to yield 2.856%, or mid-swaps plus 150 basis points, a market source said.

The pricing came tighter than initial talk, which was set at mid-swaps plus 170 bps.

BofA Merrill Lynch, BNP Paribas, First Gulf Bank, JPMorgan, MUFG and Societe Generale were the bookrunners for the Rule 144A and Regulation S deal.

Issuer:	Mubadala Development Co. PJSC
Amount:	$500 million
Maturity:	May 11, 2023
Description:	Senior notes
Bookrunners:	BofA Merrill Lynch, BNP Paribas, First Gulf Bank, JPMorgan, MUFG, Societe Generale
Coupon:	2¾%
Price:	99.332
Yield:	2.856%
Spread:	Mid-swaps plus 150 bps
Trade date:	May 9
Settlement date:	May 11
Ratings:	Moody's: Aa2
	S&P: AA
	Fitch: AA
Distribution:	Rule 144A and Regulation S
Price talk:	Mid-swaps plus 170 bps

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