Abu Dhabi Developmental Holding Company (ADQ) has successfully priced its second bond issuance, raising $2 billion to be listed on the London Stock Exchange (LSE). This follows ADQ’s debut debt issuance in May 2024 and aims to diversify funding sources for strategic growth initiatives.
The issuance was oversubscribed by 4.1 times and includes a $1 billion 7-year bond maturing in 2031 with a 4.375% annual coupon, and a $1 billion 30-year bond maturing in 2054 with a 5.250% annual coupon. The bonds attracted broad institutional demand from investors across the US, Europe, the Middle East, and Asia.
“ADQ’s second bond issuance under its Global Medium Term Note Program reflects our commitment to forward-looking financial management and a strong capital structure,” said Marcos de Quadros, Group Chief Financial Officer at ADQ. “With this issuance, we now offer an expanded bond curve to investors. We appreciate the impressive market response, demonstrated in the oversubscription of 4.1 times across both tranches.”
As of June 2024, ADQ’s total assets reached $225 billion, with holdings in over 25 portfolio companies across key sectors of Abu Dhabi’s economy, including utilities, transportation, healthcare, and real estate.
