Aabar's to issue $2bn convertible bonds to IPIC

05 April 2010

UAE-based Aabar Investments has said its planned $2bn convertible bonds sale will be made to International Petroleum Investment Co, Reuters has reported. In a regulatory filing, Aabar said it was mulling convertible bonds worth up to Dhs7.35bn at a conversion price of Dhs2.5 per share. The bonds are being issued for general corporate purposes, Aabar said.

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