Abu Dhabi expected to raise $3bln via bonds

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UAE

Abu Dhabi expected to raise $3bln via bonds

DUBAI - Abu Dhabi is expected to raise $3 billion in a bond sale on Wednesday, its second of the year for which it received over $9.75 billion in orders for two tranches, a bank document showed. The emirate set a 10-year portion at 65 basis points (bps) over U.S. Treasuries (UST) and 30-year paper at 3%, settling at the lower end of final price guidance, the document from one of the banks on the deal showed.
It had given an initial price guidance of about 90 bps over UST for the 10-year bonds and around 130 bps over UST for the 30-year notes.
BNP Paribas, First Abu Dhabi, JPMorgan, Morgan Stanley and Standard Chartered are arranging the deal, which is expected to close later on Wednesday.