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

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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