Abu Dhabi’s Adnoc on 2 September launched its Global Medium Term Note (GMTN) Program to raise debt from the capital markets. In reviving plans dating back to 2021, Adnoc will raise $4bn through the triple tranche bond transaction.
In a 5 September announcement, Adnoc confirmed that the first $1bn tranche of notes will mature on 11 September 2029 (5 years), with a coupon of 4.25%; the second $1.5bn tranche will mature on 11 September 2034 (10 years) with a coupon of 4.5%; the third and final $1.5bn tranche will mature on 11 September 2054 (30 years) with a coupon of 5.125%. Adnoc says the notes are expected to be issued on 11 September and will be listed on the International Securities Market of the London Stock Exchange. (CONTINUED - 804 WORDS)
