Abu Dhabi Ports raises $1 billion through 10-year bond issuance

Abu Dhabi Ports raises $1 billion through 10-year bond issuance

Picture used for illustrative purpose. Abu Dhabi Ports has successfully issued $1 billion 10 year bonds (The Notes) under its recently established Euro Medium Term Note Programme (EMTN Programme), to be jointly listed on the London Stock Exchange (LSE) and Abu Dhabi Securities Exchange (ADX). The issuance was more than 4. 5 times over-subscribed at its peak. The Notes mature on 6 May 2031 and carry a coupon of 2. 500% per annum. Proceeds will be used for general corporate purposes and debt refinancing. The settlement of the offering is expected to occur on 6 May 2021 and is subject to customary settlement conditions. Citi, First Abu Dhabi Bank and Standard Chartered Bank acted as Joint Global Coordinators for the transaction along with HSBC, Mizuho and Societe Generale as active Joint Lead Managers and Joint Bookrunners and BNP Paribas, Credit Agricole CIB and SMBC Nikko acted as passive Joint Lead Managers. Falah Mohamed Al Ahbabi, Chairman, Abu Dhabi Ports, said: "We are delighted by the strong global investor response to our first issuance under our recently established EMTN Programme, which reflects international confidence in the strength of our business and our strategy, as well as universal belief in the vision