By Wendy Van Sickle
Columbus, Ohio, Nov. 18 – MDGH-GMTN BV, a subsidiary of Mamoura Diversified Global Holding PJSC, formerly Mubadala Development Co. PJSC, sold $3.5 billion of senior notes in tranches due in five, 10 and 30 years (expected Aa2//expected AA), according to three regulatory notices.
The issuer sold $1 billion of 2.5% five-year notes at 99.65 to yield 2.575%.
MDGH priced $1 billion of 2.875% 10-year notes at 98.918 to yield 3.001%.
The issuer also priced $1.5 billion of 30-year notes at par to yield 3.7%.
Citi Taiwan Ltd., Deutsche Bank Taipei Branch, HSBC Taiwan, First Abu Dhabi Bank PJSC, J.P. Morgan Securities plc and SMBC Nikko Capital Markets Ltd. are stabilizing managers for the Rule 144A and Regulation S notes. First Abu Dhabi Bank, JPMorgan and SMBC Nikko acted as structuring agents for the 30-year bonds.
Proceeds will be used to refinance maturing bonds.
Abu Dhabi’s Mamoura Diversified Global Holding is a government-owned investment company.
| Issuer: | MDGH-GMTN BV
|
| Guarantor: | Mamoura Diversified Global Holding PJSC
|
| Issue: | Senior notes
|
| Stabilization managers: | Citi Taiwan Ltd., Deutsche Bank Taipei Branch, HSBC Taiwan, First Abu Dhabi Bank, JPMorgan and SMBC Nikko
|
| Put option: | Upon a change of control
|
| Pricing date: | Nov. 5
|
| Settlement date: | Nov. 7
|
| Expected ratings: Moody’s: Aa2
|
| Fitch: AA
|
| Distribution: | Rule 144A/Regulation S
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | Nov. 7, 2024
|
| Coupon: | 2.5%
|
| Price: | 99.65
|
| Yield: | 2.575%
|
| Call option: | Beginning on Oct. 7, 2024 at par
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | Nov. 7, 2029
|
| Coupon: | 2.875%
|
| Price: | 98.918
|
| Yield: | 3.001%
|
| Call option: | Beginning on Aug. 7, 2029 at par
|
|
|
| 30-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | Nov. 7, 2049
|
| Coupon: | 3.7%
|
| Price: | Par
|
| Yield: | 3.7%
|
| Call option: | Beginning on May 7, 2049 at par
|
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