Abu Dhabi – Mubasher: The emirate of Abu Dhabi on Tuesday announced completing the offering of $5 billion worth of bonds to be repaid over several period reaching up to 10 years, reported Emirates News Agency (WAM)
The bonds were divided on two tranches, each amounting to $2.5 billion. The first tranche was for 5-year bonds yielding 2.218%, which are scheduled to mature in May 2021, while the second tranche was for 10-year bonds with a yield of 3.154% due in May 2026, a statement by the UAE ministry of finance revealed.
The bonds were well received by regional and international investors with over 600 orders worth more than $17 billion. Bond coverage exceeded 340%,
JP Morgan, Bank of America and Citigroup managed the sale.
The 10-year bonds was allotted at 62% for international investors, divided into 6% for Asians, 13% for Europeans, 17% for British investors, 26% for US investors, added to 38% for MENA region investors, the statement revealed.
On the other hand, the 5-year bonds was allotted at 53% for international investors, divided into 15% for Asians, 18% for Europeans, 8% for British investors, 12% for US investors, as well as 47% for MENA region investors.
