ADNOC considers exchangeable bonds linked to shares of listed unit- sources – ZAWYA

ADNOC considers exchangeable bonds linked to shares of listed unit- sources – ZAWYA

ADNOC considers exchangeable bonds linked to shares of listed unit- sources. DUBAI- Abu Dhabi National Oil Company ( ADNOC ) is considering offering exchangeable bonds that could be converted into shares of ADNOC Distribution , ADNOCDIST.AD as one option for increasing the free float of the listed unit.. An exchangeable bond gives investors the option to exchange the bond for the stock of a company other than the issuer at some future date and under prescribed conditions.. Should an exchangeable bonds materialise, it would be the latest sign that the Gulf's giant oil companies are increasingly turning to international capital markets to fund expansion..