Aabar Investments €2 billion exchangeable bond issue

Overview:

• Aabar Investments has undertaken a €2 billion exchangeable bond issue.
• The bonds are exchangeable for shares in UniCredit of which Aabar is a 5% shareholder.
• The bond was issued in two tranches, a €1 billion 0.50% issue due 2020 and a €1 billion 1.00% issue due 2022.
• The funds raised will be used to buyback an existing exchangeable bond, which was exchangeable for shares in Daimler.
• Deutsche Bank acted as coordinator.

Sam Duke - Editor