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ADX lists MDGH-GMTN's EUR 1.1bn bonds

ADX lists MDGH-GMTN's EUR 1.1bn bonds
The bonds are offered in two tranches

Abu Dhabi - Mubasher: Abu Dhabi Stock Exchange (ADX) has listed EUR 1.1 billion worth of bonds, issued by Mamoura Diversified Global Holding’s Global Medium Term Notes (MDGH-GMTN), according to the Emirates News Agency (WAM).

The bonds guaranteed by Mamoura Diversified Global Holding, Mubadala Investment Company's wholly-owned subsidiary.

With a primary listing on the London Stock Exchange (LSE), the bonds are offered in two tranches maturing in 2027 and 2034.

The first six-year tranche is valued at EUR 600 million and has a 0.375% fixed interest rate, while the 13-year tranche amounts to EUR 500 million and has a 1% fixed interest rate.

Coupons will be distributed to investors annually in arrears.

Formerly known as Mubadala Development Company, MDGH acts as the debt-issuing entity under Mubadala Investment Company.

Commenting on the listing, the Chief Executive of ADX, Saeed Hamad Al Dhaheri, commented: "This is in line with our recently announced ADX One Strategy to enhance the Emirate’s economic growth trajectory by doubling the exchange’s market capitalisation in the next three years."

Meanwhile, the Group Chief Financial Officer of Mubadala and CFO at Mamoura Diversified Global Holding, Carlos Obeid, said: "While this is the second time we have listed a bond on ADX, these two successful tranches demonstrate very strong investor demand for MDGH’s bond issuance."