Abu Dhabi Oil Giant Plans Up to $2 Billion of Dim Sum Bonds

Abu Dhabi National Oil Co., the United Arab Emirates’ biggest oil producer, is planning to offer its first-ever yuan bond, the latest sign of deepening financial ties between China and the Gulf.

The company could raise as much as 14 billion yuan ($2 billion) with the dim sum notes, securities in the Chinese currency issued offshore, people familiar with the matter said. The final size would not necessarily be near that cap, and other details could change. It would add to a record 57.6 billion yuan of corporate dim sum bonds priced so far this year.