posted on 03/06/2006: 399 views
Aabar Petroleum Investment Company PJSC is launching a US$350 million exchangeable Sukuk al-Mudarabah (the "Sukuk"). The Sukuk will be issued by Aabar Sukuk Limited (the "Issuer"), a Cayman Islands company.
The Sukuk will have a four-year maturity and is expected to offer a fixed profit rate equal to the four-year US Dollar Swap rate around the time of pricing plus 1.25 per cent. In certain circumstances, and subject to shareholder approval for the issuance of additional capital by Aabar, the Sukuk may be redeemable in the form of Aabar's ordinary shares.
The Sukuk is expected to be offered (the "Offering") to investors through a private placement outside the United States pursuant to Regulation S of the United States Securities Act 1933. The Offering is expected to be made in certain markets in the GCC, Europe and Asia subject to applicable law.
Marketing of the Sukuk and book building is expected to begin on or around June 4, 2006 and is expected to close on or around June 14, 2006. Deutsche Bank AG is the sole Global Coordinator, sole Book runner and a Joint Lead Manager of the Offering, Abu Dhabi Commercial Bank is a Joint Lead Manager of the Offering. (Emirates News Agency, WAM)
|27 January 2015||Energy Minister: UAE committed to establish its stature as global oil and gas hub|
|18 January 2015||NDC inaugurates its new state-of-the-art jack-up rig|
|17 January 2015||UAE oil output rises as Opec holds the line|
|14 January 2015||UAE Energy Minister: Slump in world oil prices will not impact UAE economy, OPEC has no plan to cut output|
|13 January 2015||UAE's Shah gas project starts operation|