Abu Dhabi-based Dolphin Energy, 51 per cent owned by state fund Mubadala, has delayed plans for an immediate bond issue due to market conditions, leads said on Tuesday.

Dolphin Energy completed investor meetings for a 144a benchmark dollar bond last week, and was expected to indicate guidance shortly thereafter, but the Eurozone debt crisis and uncertainty surrounding Greece has made investors nervous over any new debt coming onto the market.

The bond sale was expected to raise as much as $1.93 billion to refinance existing debt.

Dolphin Energy, in which France's Total and  Occidental Petroleum Corp own stakes, will monitor market conditions for an "appropriate window of execution" for a future issue, leads said in a document seen by Reuters.

RBS, Abu Dhabi Commercial Bank, BNP Paribas, Mitsubishi UFJ and Societe Generale arranged the roadshows.

The move throws doubt on the decision of two more potential issuers from the UAE hoping to get a deal away before the quiet summer period and the Holy month of Ramadan.

Dubai retailer Majid Al Futtaim Holding held roadshows this week, and Abu Dhabi's Tourism Development and Investment Co (TDIC) was expected to announce roadshows for a potential bond imminently. – Reuters