Mubadala tightens guidance for bond sale that draws $16 bln demand

Abu Dhabi sovereign investor Mubadala has tightened the price guidance for its two-tranche bond sale expected to raise $1.5 billion after demand topped $16 billion, a bank document showed on Thursday.

Guidance was tightened from initial guidance to about 115 basis points (bps) over U.S. Treasuries for a 10-1/2-year tranche and about 145 bps over UST for 30-year Formosa bonds, the document reviewed by Reuters showed.