ADNOC

ADNOC bond brings in $3 bln

ABU DHABI, November 6, 2017 – Abu Dhabi Crude Oil Pipeline has issued and closed a USD 3-billion bond, parent company ADNOC announced Monday.

The offering was oversubscribed three and a half times, drawing USD 11 billion in orders from both regional and international investors.

 

“The very attractive pricing and substantial international demand for this offering positively reflects the UAE’s stable investment environment, as well as ADNOC’s new and progressive approach to its long-term financing strategy,” said Sultan Ahmed Al Jaber, minister of state in the UAE and CEO of ADNOC Group.

“This bond represents an important, initial milestone in our efforts to fully optimise our capital structure in a smarter, efficient and flexible manner. Importantly, this transaction enables ADNOC, for the first time, to access the international debt capital market, thus opening an increased range of highly compelling and viable options for the long-term strategic financing of the ADNOC Group,” he added.

Abu Dhabi Crude Oil Pipeline owns a 48-inch-diameter, roughly 400-kilometre-long pipeline that stretches from Fujairah to a collection centre in Abu Dhabi, passing through Sharjah and Ras Al Khaimah.

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