Abu Dhabi-owned International Petroleum Investment Company (IPIC) has rolled out a $1.5 billion bridge loan facility, Reuters reports. The financing facility was launched through Royal Bank of Scotland, JP Morgan and Goldman 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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