Abu Dhabi’s Mubadala lists $5.3bn duel currency bond on ADX

Mubadala Investment Company (Mubadala) has listed a $5.3bn dual-currency bond on the Abu Dhabi Securities Exchange (ADX).

The Abu Dhabi wealth fund said the secondary listing of its dollar- and dirham-denominated bonds totaling $4.5bn and Dhs750m respectively, was through its issuing entity Mamoura Diversified Global Holding.

The listings on ADX included Mubadala’s debut green bond and the fund’s inaugural dirham-denominated bond, the first such dirham bond by a corporation in the UAE.

Mubadala’s green bond listing marks the seventh listing of a green debt instrument on the Abu Dhabi bourse.

With interest from both local and international investors, the listing of Mubadala’s bonds in Abu Dhabi is expected to contribute to the growth of ADX’s bond market, diversifying financing resources and providing safe investment alternatives for investors.

“This remarkable achievement strongly aligns with the government’s strategic economic vision and objective of diversifying the economy of Abu Dhabi and making it globally integrated. It also underscores the resilience and dynamism of Abu Dhabi’s ever-evolving capital markets,” said Carlos Obeid, chief financial officer of Mubadala.

“We recognise the significant role that the ADX plays in fostering economic development in Abu Dhabi and we are immensely proud to be contributing to the vibrancy and robustness of our financial markets through these new listings, which builds on our first ADX listing back in 2021.”

ADX adds Mubadala to its debt issuance list

Meanwhile, ADX aims to support the growth of the UAE’s dynamic and diversified economy and remains committed to promoting best practices and fortifying its footprint in a thriving financial ecosystem.

“We are delighted to see the listing of Mubadala’s dollar and dirham bonds on ADX, alongside their debut green bond, marking a great addition to our diverse bond offering,” said Abdulla Salem Alnuaimi, CEO of ADX.

First Abu Dhabi Bank, the UAE’s biggest bank by assets, listed a Dhs1.3bn green sukuk on ADX in November to support the country’s objectives in driving a green, diversified and resilient economy.

Abu Dhabi Future Energy Company (Masdar) listed a $750m debut green bond on the exchange in October.

The 10-year notes, which were 5.6 times oversubscribed, carry a 4.87 per cent coupon rate and will mature in July 2033.

Masdar plans to use the proceeds from the issuance to fund new clean energy projects.

Similarly, TAQA listed a $1.5bn dual-tranche bond on ADX in September.

The dual-tranche senior unsecured notes – which form part of the company’s Global Medium-Term Note Programme – will now be listed on both ADX and the London Stock Exchange.

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