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Abu Dhabi's ADNOC picks banks for three-part bond sale

BY Reuters | CORPORATE | 09/02/24 03:53 AM EDT

Sept 2 (Reuters) - Abu Dhabi National Oil Company (ADNOC) has hired banks ahead of a planned three-part bond sale, fixed income news service IFR reported on Monday.

Acting through primary debt capital markets subsidiary ADNOC Murban, Abu Dhabi's flagship oil company has picked J.P. Morgan and Morgan Stanley as global coordinators to arrange investor meetings from Sept. 2, IFR said.

BofA Securities, Citi and First Abu Dhabi Bank have been selected as active bookrunners while Abu Dhabi Commercial Bank, HSBC (HSBC), Mizuho and SMBC Nikko are acting as passive bookrunners.

The oil company plans to issue benchmark-sized U.S. dollar denominated senior unsecured bonds with five, 10 and 30-year terms, IFR added. (Reporting by Mohammad Edrees Editing by David Goodman )

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