Home UAE Abu Dhabi UAE oil producer ADNOC may aim for $5bn of bonds this year Crude has surged around 14 per cent this year to more than $85 a barrel by Bloomberg January 27, 2022 Abu Dhabi’s state energy company plans to raise about $3bn to $5bn from a debut bond sale this year, according to people familiar with the matter. Abu Dhabi National Oil Co. executives told debt investors during a call on Tuesday that they’re considering setting up a multi-year bond programme of around $15bn, said three of the people. The first deal, which will be issued from a new entity called ADNOC Murban, will be used to help refinance the company’s existing loans, they said. ADNOC has about $20bn of debt, including roughly $5bn maturing this year, according to data compiled by Bloomberg. The company declined to comment to Bloomberg on its issuance plans. The country is trying to use money from energy exports to build new industries such as robotics and artificial intelligence. JPMorgan Chase & Co. and Morgan Stanley managed Tuesday’s call. ADNOC Murban was this week given the third-highest rating of AA or its equivalent by Moody’s Investors Service, S&P Global Ratings and Fitch Ratings. ADNOC Murban will have an annual cash flow of more than $21bn based on an oil price between $50 and $70 a barrel, Moody’s said. Crude has surged around 14 per cent this year to more than $85 a barrel. Tags ADNOC Cash Flow Debt Murban 0 Comments You might also like ADIPEC 2024: ADNOC, Masdar, Microsoft to drive AI, low-carbon initiatives ADIPEC 2024: ADNOC, AIQ showcase agentic AI solution for energy sector Covestro likely to recommend ADNOC takeover offer, trims profit target Fertiglobe to boost ammonia capacity as ADNOC becomes top shareholder