Abu Dhabi Developmental Holding Company (ADQ), an investment holding company in the Emirate of Abu Dhabi, announced that its first bond, worth $2.5 billion, was issued on the London Stock Exchange.
This step comes within the framework of the company’s efforts to diversify funding sources and support its strategic growth agenda.
Favorable market conditions and increased investor demand for high-quality bond issues in emerging markets contributed to a growing demand for subscriptions of more than 4.4 times the volume required, with a value a total of over $11 billion.
At prices, the value of the 5-year bonds came to $1.25 billion, with an annual rate of return of 5.498%, while the value of the 10-year bonds came to $1.25 billion, with an annual rate of return of 5.5565%.
The release saw strong demand from various segments of corporate investors from major investment destinations in Asia, the United States, the Middle East, the United Kingdom, and Europe.
The proceeds from the offering will contribute to increasing capital growth, supporting the investments of the company’s strategic initiatives, and achieving its goals, as well as expansion in key sectors, and contributing to the economic development process of the Emirate of Abu Dhabi.
His Excellency Mohammed Hassan Al Suwaidi, Managing Director and CEO of the Property Company (ADQ), said on the occasion: “The strong demand from investors for our first bond issue represents evidence clear of our strong credit rating, which in turn benefits from stability. and the flexibility of the Abu Dhabi economy. It also reflects their confidence in the financial markets in Abu Dhabi and in ADQ’s promising growth prospects, which are based on our continued efforts to provide customers with the most important products and services in key sectors. residence of Abu Dhabi and beyond. “
In turn, Marcos de Quadros, Head of Financial Affairs at ADQ, said: “The success of the issuance, in line with the global medium-term bond program, reflects the extraordinary demand of investors and the stimulating investment environment in the market, as demand for bonds increased the amount required more than 4.4 times.” »
He said: “Going forward, the global medium-term bond program will allow us to benefit from fixed income markets as a great option to finance our investments in the long term and contribute to the sustainable economic development of the Emirate of Abu Dhabi . “
As of December 31, 2023, the property’s total assets (ADQ) amounted to $196 billion. The company owns shares in more than 25 subsidiaries divided into 7 main economic sectors, including many critical infrastructure assets in the utilities, transport, healthcare, agriculture sectors and buildings.
It should be noted that ADQ Holding Company has an AA2 credit rating from Moody’s, and an AA credit rating from Fitch, with a stable outlook.
2024-05-02 07:18:51
#Holding #offering #billion #worth #bonds #London #Stock #Exchange
