Abu Dhabi Financial Group plans $100m private bond sale

Abu Dhabi Financial Group (ADFG), a privately owned investment company with over $5bn of assets under management, is considering issuing $100m in debt through a privately placed bond, sources familiar with the matter said.

The private placement, with a three-year tenor according to the sources, would come at a relatively calm time in the Gulf’s debt capital markets, which have seen little to no issuance over the summer months.

The lull was interrupted last week by a $3bn debt sale by Bahrain, which is to be followed this week by a dollar bond sale by Saudi Arabia’s Islamic Development Bank. But corporate issuances have been rarer, with the latest being a $375m bond by United Arab Emirates’ Topaz Marine last July.

ADFG declined to comment.

The company, which has invested in real estate in London and Eastern Europe, operates in a range of financial areas including investment banking, asset management, private equity, and it also lends directly to the small and medium enterprises sector.

It typically invests between $50m and $500m, according to its website.