Abu Dhabi’s Mubadala plans international bond sale, say sources

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Abu Dhabi’s state fund Mubadala is planning an international bond sale soon, two sources familiar with the matter said, after it raised $4 billion in a
multi-tranche deal in May.

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Mubadala, which manages around $230 billion in assets and is the second-biggest state investor in Abu Dhabi after the Abu Dhabi Investment Authority, is a regular issuer in debt capital markets.

It did not immediately respond to a request for comment.

The planned deal comes amid a deluge of bond deals from the Gulf, where issuers are tapping global debt markets at cheap rates this year as abundant global liquidity pushes investors to hunt for higher-yielding assets.

Mubadala has 1.25 billion euros in bonds maturing next month, as well as more than $350 million due in April and $700 million due in December, according to Refinitiv data.

It had a busy deal-making year in 2020, putting $2 billion into Silver Lake, investing more than $2 billion in Indian conglomerate Reliance Industries’ assets and was part of a consortium that invested in Waymo, the self-driving technology company owned by Google parent Alphabet Inc.

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