By Rebecca Melvin
Concord, N.H., May 28 – Abu Dhabi’s MDGH-GMTN (RSC) Ltd. has priced a $1.5 billion dual-tranche offering, including $500 million 2½% 10-year notes and $1 billion 3.4% Formosa bonds maturing 2051, according to market sources.
The tranches are guaranteed by Mamoura Diversified Global Holding PJSC.
The 2½% notes priced at 99.719 to yield mid-swaps plus 95 basis points, and the Formosa bonds priced at par to yield mid-swaps plus 138.8 bps.
J.P. Morgan Securities plc, ADCB, Citi, FAB, Morgan Stanley and Standard Chartered were managers of the Regulation S transaction.
MDGH is an investment company indirectly wholly owned by the government of Abu Dhabi.
| Issuer: | MDGH-GMTN (RSC) Ltd.
|
| Guarantor: | Mamoura Diversified Global Holding PJSC
|
| Amount: | $1.5 billion
|
| Issue: | Senior notes (including a Formosa bond)
|
| Bookrunners: | J.P. Morgan Securities plc, ADCB, Citi, FAB, Morgan Stanley and Standard Chartered
|
| Pricing date: | May 27
|
| Distribution: | Regulation S
|
|
|
| 2031 notes
|
| Amount: | $500 million
|
| Maturity: | 2031
|
| Coupon: | 2½%
|
| Price: | 99.719
|
| Spread: | 95 bps over mid-swaps
|
|
|
| 2051 Formosa bond
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| Amount: | $1 billion
|
| Maturity: | 2051
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| Coupon: | 3.4%
|
| Price: | Par
|
| Yield: | 3.4%
|
| Spread: | 138.8 bps over mid-swaps
|
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