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Dolphin Energy delays bond issue plans

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By Muhammad Iqbal
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energyDUBAI: Abu Dhabi's Dolphin Energy Limited, 51 percent owned by state fund Mubadala, has delayed plans for on an immediate bond issue due to market conditions, leads said on Tuesday.

Dolphin Energy completed investor meetings for a 144a benchmark dollar bond last week, and was expected to indicate guidance shortly thereafter, but the Eurozone debt crisis and uncertainty surrounding Greece have made investors jittery.

The bond sale was expected to raise as much as $1.93 billion to refinance existing debt.

 

Copyright Reuters, 2011

 

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