Abu Dhabi National Oil Company (ADNOC) PJSC announced today, that its wholly-owned subsidiary, ADNOC Murban RSC Ltd (ADNOC Murban), the primary debt capital markets issuing and rated entity for ADNOC Group, has successfully priced its inaugural offering of notes under its newly established Global Medium Term Note (GMTN) Programme in three tranches with an aggregate principal amount of $4 billion.

The first tranche of notes maturing on 11th September, 2029 will be issued in an aggregate principal amount of $1 billion with a coupon of 4.250%.

The second tranche of notes maturing on 11th September, 2034 will be issued in an aggregate principal amount of $1.5 billion with a coupon of 4.500%.

The third tranche of notes maturing on September 11, 2054 will be issued in an aggregate principal amount of $1.5 billion with a coupon of 5.125%.

Net proceeds of the issuance will be used by ADNOC Group for general corporate purposes. All tranches of notes are expected to be issued on September 11, 2024 and listed on the International Securities Market of the London Stock Exchange (LSE).

ADNOC Murban is rated “Aa2” by Moody’s Investor Services (Moody’s), “AA” by Standard & Poor’s (S&P) and “AA” by Fitch Ratings (Fitch) – aligned with ratings assigned to ADNOC’s shareholder, the Emirate of Abu Dhabi.

The Programme has been assigned a provisional rating of “Aa2” by Moody’s, “AA” by S&P and “AA” by Fitch and the notes have been assigned a rating of “Aa2” by Moody’s, “AA” by S&P and “AA” by Fitch.