08 Feb 2012
(MENAFN) Abu Dhabi’s Dolphin Energy said that it would raise USD1 billion bond to refinance the bank debt belonging to the firm and to pay a distribution to its shareholders, reported Emirates 24/7.
The firm, majority-owned by state fund Mubadala, added that the 10-year bond issue would be 144a-compliant, which means that it is also open to institutional US investors.
It also said that initial price guidance for the offering was set at 5.75 percent; moreover, the issue is set to mature on December 15. 2021.
It is worth noting that in July 2009, Dolphin Energy; in which France’s Total and Occidental Petroleum Corp own stakes, raised nearly USD3 billion to help fund a 244-kilometre gas pipeline between Taweelah and Fujairah.
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