ADQ Makes a Splash with $2.5 Billion Bond Listing
ADQ, the smallest of Abu Dhabi’s three sovereign wealth funds, has made a bold move by listing a dual tranche $2.5 billion bond on the prestigious London Stock Exchange, as confirmed by the fund in a recent statement.
The fund successfully sold a $1.25 billion five-year portion at 80 basis points over US Treasuries, along with another $1.25 billion 10-year tranche at 90 bps over the same benchmark, according to fixed income news service IFR.
Leading the charge on this monumental bond issuance deal were Citigroup, Credit Agricole, First Abu Dhabi Bank, Goldman Sachs International, HSBC, and Standard Chartered, who served as joint global coordinators and active bookrunners.
With the debt sale oversubscribed more than 4.4 times, the proceeds are expected to significantly diversify ADQ’s funding mix, bolster financial resilience, and provide a substantial boost to growth capital.