ADNOC to raise $1.5bn from first sale of Islamic bonds

GlobalData

Tue, Apr 29, 2025, 9:11 AM 1 min read

The Abu Dhabi National Oil Company (ADNOC) has initiated a $1.5bn merchantability of Islamic bonds, besides known arsenic sukuk, done its indebtedness superior markets entity ADNOC Murban.

The offering is priced astatine 60 ground points supra US Treasury yields, according to Reuters.

The sukuk, with a ten-year maturity, attracted much than $3.85bn, indicating beardown capitalist interest.

The proceeds volition beryllium utilized for wide firm purposes.

The determination follows a $4bn superior rise by ADNOC from accepted bonds successful September 2024 - a important measurement since the constitution of ADNOC Murban, named aft the company's premium crude grade.

ADNOC's main concern officer, Klaus Froehlich, had antecedently outlined the company's backing strategy.

In a presentation, helium stated that ADNOC would apt pat the marketplace for betwixt $3bn and $5bn a year, not accounting for alternate financing options specified arsenic sukuk.

The sukuk merchantability is being coordinated by Standard Chartered.

Other fiscal institutions including Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital and MUFG are acting arsenic progressive bookrunners.

Established successful 1971, ADNOC is simply a diversified vigor group, wholly owned by the Abu Dhabi government.

ADNOC is allocating an archetypal $23bn to beforehand and accelerate lower-carbon solutions, investing successful caller energies and decarbonisation technologies that volition let it to execute net-zero operations by 2045.

In aboriginal 2025, ADNOC concluded the marketed offering of ADNOC Gas shares, generating $2.84bn. The transaction progressive the merchantability of 3.1 cardinal mean shares, which is 4% of ADNOC Gas' issued stock capital, and accrued the company's escaped interval by 80%.