30.11.2012 - Abu Dhabi’s IPIC to raise $2.9 bln in bonds
Abu Dhabi’s International Petroleum Investment Co. (IPIC) plans to raise about $2.9 billion in bonds. IPIC is seeking to attract fixed income investors so that it can leverage and finance more energy investments and projects. IPIC continues to invest and buy into refinery, liquefied natural gas developments, and other assets in the hydrocarbon value chain. IPIC plans to sell $750 million in 3-year bonds and 2-part 1.65 billion in euro-denominated ($2.4 billion) debt maturing in 5.5 years and 10.5 years. The IPIC is owned by the Emirate of Abu Dhabi. Since 2012, the government of Abu Dhabi has made six equity contributions to IPIC totaling US$ 3.5 billion, the latest in 2008. To date, IPIC has not paid any dividends to the government...............................................Full Article: Source
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