Mubadala GE Capital eyes bond sales, expansion | GulfNews.com:
"An $8 billion (Dh29.4 billion) commercial finance joint venture between General Electric Co. (GE) and Abu Dhabi’s government-owned development fund Mubadala is preparing to get a credit rating and sell bonds for the first time next year as the business transitions to a self-funded model and eyes expansion across the Middle East and Africa.
Mubadala GE Capital, as the venture is called, is a cornerstone of Abu Dhabi’s drive to develop its local financial sector and give training to citizens looking at careers in the field. It is also a crucial part of a broader effort to wean the emirate’s economy off oil by partnering with leading global companies to spur private sector activity.
The coming bond issue and geographic expansion represent the next major stage in Mubadala GE Capital’s evolution since it began operations almost four years ago. GE and Mubadala each allocated $4 billion of equity to the company when it launched."
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