UAE federal government secures $4bn in first US dollar bond sale debut

UAE federal government secures $4bn in first US dollar bond sale debut

The UAE federal government has secured $4 billion in its first multi-tranche US dollar-denominated bond sale debut, according to bank documents as cited by Reuters. The UAE government has raised that amount after the orders for the bonds, comprising 10, 20, and 40-year tranches, had exceeded $22.5 billion, as shown by the documents. The UAE Ministry of Finance sold $1 billion in the 10-year tranche at 70 basis points (bps) over US Treasuries (UST), $1 billion in 20-year bonds at 105 bps over UST, and $2 billion in 40-year notes at 3.25%. It is noteworthy to mention that on Wednesday, 6 October,