Abu Dhabi – Mubasher: Ratings agency Standard & Poor's (S&P) credit rating company gave the three tranches of the Abu Dhabi government’s long-term foreign currency bonds an ‘AA’ rating.
The $3 billion first tranche is due in 2022, while the $4 billion second tranche is due in 2027, and the third tranche worth $3 billion is due in 2047, according to CNBC.
The sovereign credit of Abu Dhabi was also affirmed at ‘AA’.
The demand on the Abu Dhabi’s bonds surpassed $30 billion, a document showed.
Earlier this month, the government of Abu Dhabi assigned Bank of America Merrill Lynch, Citi, First Abu Dhabi Bank (FAB), HSBC, and JP Morgan to arrange the issuance of these bonds.
