As announced yesterday, Mubadala successfully refinanced its US$2 billion loan. Some additional details today courtesy of Gulf News.
While the margin increased from 17.5 basis points to 75, this is still a comfortable margin especially given current market conditions. And as well the downgrade by Moodys in March to Aa3.
The facility was also well received. US$4 billion in demand. And it was up-sized (I just had to use that word) by US$500 million to provide a back-stop for refinancing under Mubadala's ECP program.
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