Today, the Emirate of Abu Dhabi began selling a record size of debt in three tranches, as reported by the IFR Fixed Income News Service.
reduced Emirate of Abu Dhabi The indicative price for issuing dollar-denominated bonds in three tranches after receiving orders worth more than $22 billion, the IFR service, which specializes in fixed income news, reported on Tuesday.
Abu Dhabi reduced the guidance price for the five-year bond tranche to between 40 and 45 basis points above US Treasury bonds from about 70 basis points earlier on Tuesday.
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The indicative price for the ten-year bond tranche was also reduced to between 50 and 55 basis points from about 85 basis points, while it was reduced for the 30-year bond tranche to between 95 and 100 basis points from about 125 basis points.
Today, the Emirate of Abu Dhabi began selling a record size of debt in three tranches, as reported by the IFR Fixed Income News Service.
The emirate set an initial indicative price for a five- and ten-year debt deal at about 70 and 85 basis points above US Treasury bonds, respectively, while it set the initial indicative price for a 30-year tranche at about 125 basis points above US Treasury bonds of the same standard size.
Abu Dhabi Commercial Bank, Citigroup Global Markets Limited, First Abu Dhabi Bank, HSBC Bank, JP Morgan Securities, Morgan Stanley and Standard Chartered were appointed as lead managers for the debt sale.
