IPIC Raises $2.9Bn From Bond Issue
Abu Dhabi government-owned International Petroleum Investment Company (IPIC) raised $2.9bn from issuing bonds. They were offered in three tranches and two currencies comprising $750mn of notes with a three-year maturity, €800mn maturing in May 2018 and €850mn maturing in May 2023.
The dollar tranche was priced at 135 basis points (bps) over benchmark mid swaps (with a 1.75% coupon), the 5.5 year bonds...
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