UAE: UAE federal government bonds tightened after over $20 billion orders – Gulf Digital News
UAE: UAE federal government bonds tightened after over $20 billion orders – Gulf Digital News
The United Arab Emirates federal government tightened the price guidance for its debut bonds, which comprise three US dollar-denominated tranches, after drawing more than $20 billion in orders, bank documents showed on Wednesday.
The bonds were tightened to offer around 80 basis points (bps) over US Treasuries (UST) for a 10-year portion, about 110 bps over UST for a 20-year tranche and around 3.3 per cent for 40-year Formosa bonds, according to the documents from banks on the deal, which is expected to close later on Wednesday.
Demand was skewed to the 10-year tranche, the documents said.
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