DUBAI: International Petroleum Investment Co (IPIC), an investment vehicle owned by the Abu Dhabi government, plans to price a three-tranche, dual-currency bond on Tuesday, arranging banks said on Monday.
IPIC, rated AA, plans to issue a three-year dollar-denominated portion, and two euro-denominated pieces carrying maturities of 5.5 and 10.5 years.
All three tranches will be benchmark-sized, which is typically understood to mean at least $500 million.
BNP Paribas, JP Morgan Chase, National Bank of Abu Dhabi, Natixis, RBS and Unicredit are joint bookrunners on the deal. (Reuters)
