Abu Dhabi Ports eyes $1b bond in 2011

ABU DHABI - State-owned Abu Dhabi Ports Company (ADPC) may sell up to $1 billion in bonds early next year to finance the Khalifa Port and Industrial Zone (KPIZ) in Abu Dhabi, its chief financial officer said on Monday.

By (Reuters)

  • Follow us on
  • google-news
  • whatsapp
  • telegram

Published: Tue 20 Jul 2010, 10:39 PM

Last updated: Mon 6 Apr 2015, 10:37 AM

ADPC has appointed National Bank of Abu Dhabi as financial advisor to draw up a long-term financial strategy. Arrangers for the bond have yet to be appointed.

“One of our options is a sukuk or bond in the first quarter of 2011 of about $1 billion,” Ala Khannak told Reuters. In a telephone interview, Khannak said the ports operator is working closely with Abu Dhabi’s Debt Management Office.

ADPC is developing the $2.18 billion KPIZ project, located midway between Abu Dhabi and Dubai in Taweelah. The first phase will be operational in fourth quarter 2012 with initial capacity of 2 million TEUs and nine million tonnes of cargo.

More news from