Chicago, Oct. 19 – MDGH GMTN (RSC) Ltd. priced $1 billion of 5½% Formosa bonds with a 10.5-year tenor (AA/AA) on Tuesday, according to a market source.
The bonds priced at 98.583 to yield 5.681%, or 165 basis points over Treasuries.
The senior bonds are guaranteed by Mamoura Diversified Global Holdings PJSC.
There is a par call option three months before the maturity date.
Book size went above $3 billion.
HSBC Bank (Taiwan) Ltd. is the lead manager and SG Securities HK Ltd., Taipei Branch is listed as a joint bookrunners.
Structuring agents for the Rule 144A and Regulation S deal include Abu Dhabi Commercial Bank, BofA Securities, First Abu Dhabi Bank, IMI – Intesa Sanpaolo and MUFG.
The notes will be listed on the London Stock Exchange and the Taipei Exchange.
Mamoura is an investment firm based in Abu Dhabi.
| Issuer: | MDGH GMTN (RSC) Ltd.
|
| Guarantor: | Mamoura Diversified Global Holdings PJSC
|
| Amount: | $1 billion
|
| Issue: | Formosa bonds
|
| Maturity: | April 28, 2033
|
| Bookrunners: | HSBC Bank (Taiwan) Ltd. and SG Securities HK Ltd., Taipei Branch
|
| Co-managers: | Abu Dhabi Commercial Bank, BofA Securities, First Abu Dhabi Bank, IMI – Intesa Sanpaolo and MUFG
|
| Coupon: | 5½%
|
| Price: | 98.583
|
| Yield: | 5.681%
|
| Spread: | Treasuries plus 165 bps
|
| Call features: | Par call three months prior to maturity
|
| Change of control: | Yes
|
| Trade date: | Oct. 18
|
| Settlement date: | Oct. 28
|
| Ratings: | S&P: AA
|
| Fitch: AA
|
| Distribution: | Rule 144A and Regulation S
|
| ISIN: | XS2546781985
|
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