Mubadala sells bonds for refinery acquisition in Brazil

Mubadala sells bonds for refinery acquisition in Brazil

Corporate & Sovereign Strategy Bonds Debt Fixed Income M&A Brazil Capital Markets

Abu Dhabi-based sovereign wealth fund Mubadala sold $1.8 billion worth of 10-year bonds on Tuesday to fund the acquisition of a refinery in Brazil, according to sources involved in the deal. Mubadala subsidiary MC Brazil priced the 2031 bonds at par to yield 7.25% after receiving $3.6 billion in orders. It had opened the deal with the initial price talk in the 7.5% area and set guidance at 7.25%, a sell-side source said. "The price was fair," said an investor who participated in the deal. "The s

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