Small font size A Larger text size A Largest text size A

Abu Dhabi's ADNOC tightens guidance for three-part bonds, IFR reports

BY Reuters | CORPORATE | 09/04/24 09:29 AM EDT

Sept 4 (Reuters) - Abu Dhabi National Oil Company (ADNOC) has tightened the price guidance on the three-tranche dollar bonds it began marketing on Wednesday by 25 basis points, fixed-income news service IFR reported.

The Abu Dhabi state oil giant, through debt unit ADNOC Murban, is now offering the five-year tranche at around 80 basis points over U.S. Treasuries, the 10-year bonds at around 90 bps, and the 30-year notes at around 120 bps over the same benchmark, the IFR report showed.

JPMorgan and Morgan Stanley are global coordinators for the debt deal. BofA Securities, Citi and First Abu Dhabi Bank are active bookrunners, while Abu Dhabi Commercial Bank, HSBC, Mizuho and SMBC Nikko are passive bookrunners. (Reporting by Shamsuddin Mohd; Editing by Jan Harvey)

More Fixed Income News

TREASURIES-A seesaw start to 2025, with Trump and Fed in foreground BY Reuters |ECONOMIC 03:27 PM EST
Form 424B2 ROYAL BANK OF CANADA BY EDGAR SEC Filings |ECONOMIC 03:08 PM EST
Form 424B2 ROYAL BANK OF CANADA BY EDGAR SEC Filings |ECONOMIC 03:05 PM EST
Form 424B2 ROYAL BANK OF CANADA BY EDGAR SEC Filings |ECONOMIC 02:45 PM EST

All Fixed Income News

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article