Abu Dhabi sovereign wealth fund Mubadala Investment Company has started taking bids for its AED-denominated 5-year sukuk, an arranging bank document showed on Tuesday.
The indicative price for the sale of the sukuk has been set at 4.850%. The final price is expected to be set later, the document showed.
Acting through its unit Mamoura Diversified Global Holding, Mubadala plans to issue a benchmark-sized AED denominated senior unsecured sukuk sale under MDGH Sukuk Limited’s trust certificate issuance program, the document said.
Though the exact value of the offering remains undisclosed, the sukuk will be benchmark-sized — meaning it will be sized at a minimum of $500 million.
Mubadala is a sovereign investor managing a diverse portfolio of assets in the UAE and abroad.
According to the company’s website, Mubadala is a $302 billion business that spans six continents with interests across multiple sectors and asset classes.
