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.
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