Abu Dhabi's Mubadala doesn't rule out further bond sale
Mubadala Development, the investment arm of the Abu Dhabi government, hasn't ruled out a further bond sale to finance more than $5bn (€3.6bn) worth of projects in the emirate.
"We aim to optimise our capital structure through a flexible approach to funding. We are continually assessing the market and considering options as appropriate," a Mubadala spokesperson said in an emailed response to Zawya Dow Jones when asked whether the company plans to issue further bonds.
Earlier Monday, Dubai-based business daily Business 24-7 reported that Mubadala is considering a project bond to help finance its six largest projects estimated to be worth $5.5bn.
A number of Abu Dhabi government-related companies have recently raised money through bond issues as the emirate embarks on an aggressive infrastructure program.
Aldar Properties, Abu Dhabi's largest real estate developer, raised $1.25bn in May through a five-year bond.
Abu Dhabi's government and Mubadala raised about $4.75bn by selling five-year and 10-year bonds in April.
--Write to Stefania Bianchi, Dow Jones Newswires; +971 4 3644967; stefania.bianchi@dowjones.com
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