Mubadala launches $1.5bn bond

Abu Dhabi-owned investment fund Mubadala Development Co on Wednesday launched a dual-tranche $750 million 5-year and $750 million 10-year bond, IFR said.

Mubadala launched the 5-year bond at 180 basis points over US Treasuries, and the 10-year at 210 basis points over US Treasuries, according to IFR Markets, a Thomson Reuters unit.

This compares to price guidance of +185bp and +210bp, respectively.

A bond from Mubadala would be the second from a Abu Dhabi entity to tap international capital markets this year after International Petroleum Investment Co (Ipic) issued $4.3 billion equivalent in sterling and euro-denominated bonds in March.

Arranging banks are HSBC, Standard Chartered, National Bank of Abu Dhabi, Societe Generale and Barclays Capital.