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The Arab Energy Fund (TAEF) has priced its $600 million Reg S 3-year senior unsecured notes at 3.985%, or SOFR mid-swaps plus 50 basis points.
Final books were at $1 billion, excluding joint lead manager interest.
The notes are issued under TAEF’s Global Medium Term Note Programme may follow, subject to market conditions.
Initial price thoughts (IPTs) were in the area of SOFR MS + 60bps.
Citi, Commercial Bank of Dubai, DBS Bank Ltd., and Emirates NBD Capital are acting as joint lead managers and bookrunners for the transaction.
(Writing by Brinda Darasha; editing by Daniel Luiz)
