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Abu Dhabi’s IPIC Unveils $1.5B Loan Facility
Abu Dhabi-owned International Petroleum Investment Company has rolled out a $1.5 billion bridge loan facility.
Abu Dhabi-ownedInternational Petroleum Investment Company(IPIC) has rolled out a $1.5 billion bridge loan facility,Reutersreports. The financing facility was launched throughRoyal Bank of Scotland,JP MorganandGoldman Sachs.
The facility will mature in 18 months. In March 2011, the state-owned investment fund had raised $4 billion in three-tranche euro and sterling-denominated bonds. Separately, Abu Dhabi is expected to sell an international bond in the next six to 12 months.
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