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Aabar Raises €1.25B In Bond Sale

Aabar Investments has raised €1.25 billion through a sale of bonds exchangeable in the stock of German car maker, Daimler.

Aabar Investments has raised €1.25 billion through a sale of bonds exchangeable in the stock of German car maker, Daimler, ArabianBusiness.com reports. The bonds, which will be listed in Frankfurt, will hold a coupon of 4%.

The Abu Dhabi sovereign wealth fund, which seeks to use the proceeds from the offering for general corporate purposes, previously planned to raise €750 million from the sale. Aabar Investments appointed BofA Merrill Lynch, Deutsche Bank and Morgan Stanley to manage the sale.

Click here for the story from ArabianBusiness.com.

Click here for additional coverage from Bloomberg.

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