Chicago, Oct. 19 – MDGH GMTN (RSC) Ltd. priced $1 billion of 5½% Formosa bonds with a 10.5-year tenor (AA/AA) on Tuesday, according to a market source.
The bonds priced at 98.583 to yield 5.681%, or 165 basis points over Treasuries.
The senior bonds are guaranteed by Mamoura Diversified Global Holdings PJSC.
There is a par call option three months before the maturity date.
Book size went above $3 billion.
HSBC Bank (Taiwan) Ltd. is the lead manager and SG Securities HK Ltd., Taipei Branch is listed as a joint bookrunners.
Structuring agents for the Rule 144A and Regulation S deal include Abu Dhabi Commercial Bank, BofA Securities, First Abu Dhabi Bank, IMI – Intesa Sanpaolo and MUFG.
The notes will be listed on the London Stock Exchange and the Taipei Exchange.
Mamoura is an investment firm based in Abu Dhabi.
Issuer: | MDGH GMTN (RSC) Ltd.
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Guarantor: | Mamoura Diversified Global Holdings PJSC
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Amount: | $1 billion
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Issue: | Formosa bonds
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Maturity: | April 28, 2033
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Bookrunners: | HSBC Bank (Taiwan) Ltd. and SG Securities HK Ltd., Taipei Branch
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Co-managers: | Abu Dhabi Commercial Bank, BofA Securities, First Abu Dhabi Bank, IMI – Intesa Sanpaolo and MUFG
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Coupon: | 5½%
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Price: | 98.583
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Yield: | 5.681%
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Spread: | Treasuries plus 165 bps
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Call features: | Par call three months prior to maturity
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Change of control: | Yes
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Trade date: | Oct. 18
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Settlement date: | Oct. 28
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Ratings: | S&P: AA
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| Fitch: AA
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Distribution: | Rule 144A and Regulation S
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ISIN: | XS2546781985
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