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International bonds: Dolphin Energy, 5.888% 15jun2019, USD
USM28368AA21

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Issue
Issuer
  • M/S&P/F
    -/-/-
    -/-/-
Status
Matured
Amount
1,250,000,000 USD
Placement
***
Early redemption
*** (-)
Country of risk
United Arab Emirates
Current coupon
***%
Price
***%
Yield / Duration
-
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Issue information

Profile
Dolphin Energy Limited of Abu Dhabi, UAE began gas production in July 2007. This unique strategic energy initiative involves the production and processing of natural gas from Qatar’s North Field, and transportation of the refined gas ...
Dolphin Energy Limited of Abu Dhabi, UAE began gas production in July 2007. This unique strategic energy initiative involves the production and processing of natural gas from Qatar’s North Field, and transportation of the refined gas by subsea pipeline across joint UAE-Qatari waters to the UAE. The overall investment in constructing the entire Dolphin Gas Project – wells, sealines, processing plant, export pipeline and receiving facilities – has made it one of the largest energy-related ventures ever undertaken in the Middle East. Dolphin Energy is a development company that was established in Abu Dhabi to implement the Dolphin Gas Project, and to undertake other important energy-related developments such as the Al Ain - Fujairah Gas Pipeline. This was completed in December 2003 and commissioned in January 2004, creating the first ever cross-border refined natural gas transmission in the history of the GCC. Dolphin Energy’s overall objective is to create long-term economic wealth and new business opportunities for GCC citizens, far into the future.
  • Borrower
    Go to the issuer page
    Dolphin Energy
  • Full issuer name
    Dolphin Energy Limited
  • Sector
    corporate
  • Industry
    Oil and gas
Volume
  • Amount
    1,250,000,000 USD
Nominal
  • Minimum Settlement Amount
    100,000 USD
  • Outstanding face value
    *** USD
  • Par amount, integral multiple
    *** USD
  • Nominal
    1,000 USD

Cash flow parameters

  • Reference rate
    ***
  • Coupon Rate
    ***
  • Day count fraction
    ***
  • Interest Accrual Date
    ***
  • Coupon frequency
    *** time(s) per year
  • Payment currency
    ***
  • Delay days
    *** days
  • Maturity date
    ***
  • Early redemption date
    ***

Cash flow

Calculations for international bonds are made according to the minimum trading lot

Early redemption terms

***

DATA PLATFORM FOR FINANCIAL MARKET PROFESSIONALS AND INVESTORS
  • High performance interface for global bond market screening
  • Full information on close to 400,000 bonds from 180 countries
  • 100% coverage of Eurobonds worldwide
  • Over 300 primary sources of prices
  • Ratings data from all international and local ratings agencies
  • Stock market data from 60 world trading floors
  • Intuitive, high speed user interface
  • Data access via the website, mobile application and add-in for Microsoft Excel

Placement

  • Placement method
    Open subscription
  • Order book
    *** (***) - *** (***)
  • Coupon (Yield) Guidance
    ***% - ***% (*** - ***%)
  • Placement
    *** - ***
  • Initial issue price (yield)
    (***%)
  • Bids
    *** USD
  • Number of bids
    ***
  • Geographic breakdown
    ***
  • Investor breakdown
    ***
  • The purpose of placing
    The net proceeds to be received by us from the sale of the bonds offered hereby will be equivalent to approximately $1,244,375,000, after deduction of underwriting commissions and payment of offering expenses. We will use the net proceeds from the offering of the bonds, together with the proceeds from the DEL Debt Facilities and the proceeds from the repayment to us of the Existing Upstream Loans, to (i) refinance our outstanding $2,450 million term loan facility; (ii) refinance our $1,000 million outstanding Islamic finance facility; (iii) finance approximately $580 million of capital expenditures relating to the construction of the Taweelah–Fujairah Pipeline, comprising approximately $507 million of future capital expenditures and approximately $73 million to be paid to our shareholders as a Distribution (to bring to approximately 30% the share of the projected capital costs of the Taweelah- Fujairah Pipeline that have already been funded by them through cash calls); (iv) pay approximately $110 million of financing fees, premiums and expenses attributable to the financing; and (v) make a loan to DIC in an amount equal to approximately $1,275 million. We can make no assurance that the Finance Plan will be completed as mentioned. Subject to any further qualifications or conditions in a Secured Debt Instrument, we will apply the proceeds of the Initial Secured Debt and Supplemental Debt solely towards (i) repaying the Existing Islamic Finance Facility and the Existing Term Loan Facility (together the ‘‘Existing Bridge Facilities’’); (ii) extending the DEL-DIC On-Loan to DIC; (iii) paying Financing Costs; (iv) making payments in connection with capital expenditures related to the construction of the Taweelah–Fujairah Pipeline; and (v) to the extent that there is any surplus, making distributions to our Shareholders. DIC will apply the proceeds of the DEL-DIC On-Loan solely towards (i) repaying the Existing Upstream Loan owed to us by DIC and (ii) paying Financing Costs. Oxy Upstream will apply the proceeds of the I
  • Listing
    ***
Participants
  • Bookrunner
    ***, ***, ***, ***

Conversion and exchange

  • Convertion date
    ***
  • Initial premium
    ***%
  • Convertible until
    ***
  • Lock-up
    *** days
  • Conversion terms

Additional information

***

Latest issues

Identifiers

  • Registration
    ***
  • Date of program registration
    ***
  • ISIN RegS
    USM28368AA21
  • ISIN 144A
    US256853AA04
  • CUSIP RegS
    ***
  • CUSIP 144A
    ***
  • Common Code RegS
    044286939
  • Common Code 144A
    044286963
  • CFI RegS
    DBFSGR
  • CFI 144A
    DBFSGR
  • FIGI RegS
    BBG0000J35C9
  • FIGI 144A
    BBG0000H2JV3
  • WKN RegS
    A1AKU7
  • WKN 144A
    A1AKUS
  • SEDOL
    B3Z3W42
  • Ticker
    DOLNRG 5.888 06/15/19 REGS
  • Type of security by CBR
    ***

Ratings

Issue ratings

Bond classification

  • Registered
  • Coupon bonds
  • Amortization
  • CDO
  • Convertible
  • Dual currency bonds
  • For qualified investors
  • Foreign bonds
  • Green bonds
  • Indexed
  • Supranational bond issues
  • Mortgage bonds
  • Perpetual
  • Payment-in-kind
  • Non-Marketable Securities
  • Redemption Linked
  • Restructuring
  • Retail bonds
  • Covered
  • Securitization
  • Structured product
  • Subordinated
  • Sukuk
  • Trace-eligible

Restructuring

***

***