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Abu Dhabi's IPIC to price benchmark-size three-tranche bond Tuesday
November 26, 2012 / 10:22 AM / 5 years ago

Abu Dhabi's IPIC to price benchmark-size three-tranche bond Tuesday

DUBAI, Nov 26 (Reuters) - International Petroleum Investment Co (IPIC), an investment vehicle owned by the Abu Dhabi government, plans to price a three-tranche, dual-currency bond on Tuesday, arranging banks said on Monday.

IPIC, rated AA, plans to issue a three-year dollar-denominated portion, and two euro-denominated pieces carrying maturities of 5.5 and 10.5 years.

All three tranches will be benchmark-sized, which is typically understood to mean at least $500 million.

BNP Paribas, JP Morgan Chase, National Bank of Abu Dhabi, Natixis, RBS and Unicredit are joint bookrunners on the deal. (Reporting by Rachna Uppal; Editing by David French)

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