UAE - Mubasher: Abu Dhabi has issued US dollar-denominated bonds with three tranches of three, 10 and a half, and 50 years, Reuters reported.
Each bond tranche has a benchmark size of at least $500 million each, according to the document published by one of the banks leading the deal.
The banks arranging the deal are Citi, Deutsche Bank, First Abu Dhabi Bank (FAB), Morgan Stanley, and Standard Chartered.
Due in 2023, the first tranch has an initial price offering of about 95 basis points over US Treasuries, while the second tranche, with a maturity date of March 2031, offers about 135 basis points.
Meanwhile, the longest tranche, due in 2070, offers a price of around 3%.
The document showed that the new bond issuance would be completed later on Tuesday.
It is noteworthy to mention that in 2020, Abu Dhabi has raised $10 billion via debt issuances to mitigate the economic impact of the coronavirus (COVID-19) pandemic and low oil prices.
