Commentary & Deal Flow

ADNOC Murban RSC Ltd (ADNMUR) exp Aa2/AA/AA US$ benchmark 144A/Reg S 3-part sr unsec notes (5y due 9/11/29, 10y due 9/11/34 and 30y due 9/11/54). 1mo par call on 5y, 3mos on 10y and 6mos on 30y. JPM (B&D)/MS joint global coordinators. BofA/Citi/FADB active JBRs. ADCB/HSBC/Miz/SMBC passive JBRs. UOP: gcp. Investor presentation: https://www.netroadshow.com/nrs/home/#!/? show=85372761 Or visit http://www.netroadshow.com entry code: ADNOC24 (not case- sensitive). Pricing 9/4. Settle 9/11. IPTs: 5y T+105 area, 10y T+115 area, 30y T+145 area.