Abu Dhabi’s sovereign investment arm, Mamoura Diversified Global Holding (MDGH), has successfully priced its benchmark AED 1 billion ($272 million) five-year Reg S bond at par, offering a fixed coupon of 4.20%.
The final pricing reflects a tightening from the initial guidance of 4.45%, indicating strong investor appetite.
Robust demand pushed total orders beyond AED 4.7 billion, excluding interest from joint lead managers.
The senior unsecured notes were issued by MDGH GMTN and carry a guarantee from Mamoura, with settlement scheduled for October 23.
The bond is expected to receive a credit rating of AA from Fitch, aligning with the guarantor’s current ratings of Aa2 by Moody’s, AA by S&P, and AA by Fitch.
The transaction was jointly led by a consortium of banks, including Abu Dhabi Commercial Bank, Bank of China, Citigroup, Emirates NBD Capital, First Abu Dhabi Bank, Goldman Sachs International, HSBC, Industrial and Commercial Bank of China, National Bank of Kuwait, and Standard Chartered, acting as joint lead managers and bookrunners.
The bond will be listed on the London Stock Exchange’s Main Market.
This issuance follows MDGH’s recent 10-year U.S. dollar bond offering, completed less than 10 days ago, which raised $750 million at a spread of 55 basis points over U.S. Treasuries.
