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International bonds: Dolphin Energy, 5.5% 15dec2021, USD
USM28368AB04

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Trace-eligible, Senior Secured

Issue
Issuer
  • M/S&P/F
    -/-/-
    -/-/-
Status
Outstanding
Amount
1,300,000,000 USD
Placement
***
Early redemption
*** (-)
Country of risk
United Arab Emirates
Current coupon
***%
Price
***%
Yield / Duration
-
Corporate Actions Issuer news
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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
    1,300,000,000 USD
  • Outstanding face value amount
    1,300,000,000 USD
Nominal
  • Minimum Settlement Amount
    200,000 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

***

Auctions and additional placements

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
  • Placement type
    Public
  • 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 $993 million, after deduction of underwriting commissions and payment of offering expenses. We will use the net proceeds from the offering of the bonds to (i) fully refinance the Commercial Facility, with respect to which $835 million in principal is currently outstanding, bearing interest at a rate of LIBOR plus 2.75% per annum; and (ii) make a distribution to our shareholders. Subject to any further qualifications or conditions in a Secured Debt Instrument, the proceeds of the Initial Secured Debt and any Supplemental Debt may be applied solely towards, among other uses, (i) paying Financing Costs; (ii) making payments in connection with capital expenditures related to the construction of the Taweelah-Fujairah Pipeline; and (iii) to the extent that there is any surplus, making distributions to our shareholders.
  • 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
    USM28368AB04
  • ISIN 144A
    US256853AB86
  • CUSIP RegS
    ***
  • CUSIP 144A
    ***
  • Common Code RegS
    074660088
  • Common Code 144A
    074663753
  • CFI RegS
    DBFSGR
  • CFI 144A
    DBFSGR
  • FIGI RegS
    BBG002N0Z6G0
  • FIGI 144A
    BBG001QZZQQ7
  • WKN RegS
    A1G0SR
  • WKN 144A
    A1G0U7
  • SEDOL
    B5M4PK9
  • Ticker
    DOLNRG 5.5 12/15/21 REGS
  • Type of security by CBR
    ***

Ratings

Issue ratings

Bond classification

  • Senior Secured
  • Registered
  • Coupon bonds
  • Trace-eligible
  • 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

Restructuring

***

***

Holders