emirates7 - Abu Dhabi National Oil Company (ADNOC) PJSC announced that its wholly-owned subsidiary, ADNOC Murban RSC Ltd (ADNOC Murban), the primary entity responsible for issuing debt capital for the ADNOC Group, has successfully priced its first offering of notes under its newly established Global Medium Term Note (GMTN) Programme. The offering includes three tranches, totaling $4 billion in principal.

The first tranche, worth $1 billion, will mature on 11th September 2029 and carry a coupon rate of 4.250%. The second tranche, valued at $1.5 billion, will mature on 11th September 2034 with a coupon of 4.500%. The third tranche, also valued at $1.5 billion, will mature on 11th September 2054 and offer a coupon of 5.125%.

The net proceeds from this issuance will be used by the ADNOC Group for general corporate purposes. The notes are scheduled to be issued on 11th September 2024 and will be listed on the International Securities Market of the London Stock Exchange (LSE).

ADNOC Murban holds credit ratings of "Aa2" from Moody’s, "AA" from Standard & Poor’s (S&P), and "AA" from Fitch Ratings, reflecting the ratings given to its parent company, the Emirate of Abu Dhabi. The GMTN Programme has also been provisionally rated "Aa2" by Moody's, "AA" by S&P, and "AA" by Fitch, with the notes themselves receiving the same ratings from these agencies.