UAE – Mubasher: Abu Dhabi Developmental Holding Company (ADQ) priced its second bond issuance valued at $2 billion, which will be listed on the London Stock Exchange (LSE).

The offering follows ADQ’s debt capital markets debut issuance in May 2024, according to a recent press release.

The new issuance will further diversify ADQ’s funding sources to boost strategic growth initiatives within the group. Meanwhile, the issuance was oversubscribed by 4.10 times.

The dual-tranche offering includes a $1 billion seven-year bond due 2031 and a $1 billion 30-year bond due 2054, with annual coupon rates of 4.37% and 5.25%, respectively.

Marcos de Quadros, Group Chief Financial Officer at ADQ, said: “ADQ’s second bond issuance under its Global Medium Term Note Programme reflects our commitment to forward-looking financial management and a strong capital structure.”

Earlier this year, ADQ completed the issuance of its inaugural $2.5 billion bond, which has a primary listing on the LSE and a secondary listing on the Abu Dhabi Securities Exchange (ADX).

As of 30 June 2024, ADQ’s total assets hit $225 billion, having shareholdings in more than 25 portfolio companies, structured into seven economic clusters which cover key sectors of the Abu Dhabi economy.