Abu Dhabi's International Petroleum Investment Company (IPIC) is in talks with banks about issuing a EUR-denominated bond, three sources aware of the matter said on Monday. IPIC, rated two notches below the top AAA rating by all three international rating agencies, is in talks to the nine banks that backed an AED3.6 billion EUR-denominated loan issued on behalf of its subsidiary Aabar Investments in March 2016, two of the sources said. The proceeds of the potential bond will be used to refinance an upcoming maturity, the sources added. IPIC has a EUR1.25 billion bond that was originally sold in 2011 and falls due in mid-May 2016, according to Thomson Reuters data. The bond sale is subject to the approval of the emirate's Debt Management Office before it can proceed as IPIC is a government-related entity. The nine banks that provided the loan to Aabar in March 2016 were: Bank of America-Merrill Lynch, BNP Paribas, HSBC, Intesa Sanpaolo, JP Morgan, National Bank of Abu Dhabi (NBAD), Natixis, Societe Generale and Sumitomo Mitsui Banking Corp. (Reuters)