Equate and Taqa tap into dollar investor demand as funding window re-opens

By Mariam Meskin
21 Apr 2021

Kuwait’s Equate Petrochemicals and Abu Dhabi’s Taqa issued bonds this week, and bankers say issuance volumes are set to pick up further.

Equate Petrochemicals, rated Baa2/BBB by Moody’s and Standard & Poor’s, raised $700m from a seven year Reg S/144A senior unsecured dollar-denominated conventional bond.

Initial price thoughts on the April 2028 note had come out in the area of 170bp over US Treasuries on Wednesday morning. The leads later tightened pricing to ...

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