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.
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Crude has surged around 14 per cent this year to more than $85 a barrel.
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Abu Dhabi National Oil Company’s newly set up debt-issuing unit, ADNOC Murban, began holding investor meetings on Tuesday ahead of its debut bond sale expected this year, an investors’ note seen by Reuters showed. The meetings, coordinated by JPMorgan and Morgan Stanley, will run through Friday and will target investors in Asia, Europe, the United States, and the Middle East
ADNOC said the new entity “intends to closely monitor market conditions and explore potential funding opportunities.”
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