Reuters reported that Emirates Aluminium, a JV between Abu Dhabi's Mubadala and Dubai Aluminium has mandated 3 banks for a bond issue up to USD 1 billion.

Two banking sources said that Emal has picked Goldman Sachs, Citigroup and local lender Abu Dhabi Commercial Bank. The bond is expected to be a part of USD 4 billion financing package for a smelter expansion.

Source - Reuters

(www.steelguru.com)