Ministry of Finance issues multi-tranche bond package offering for subscription

Ministry of Finance issues multi-tranche bond package offering for subscription

ABU DHABI, 7th October, 2021 (WAM) -- The UAE Government, represented by the Ministry of Finance (MoF), is set to issue a US dollar- denominated multi-tranche bond offering for subscription. The Ministry of Finance disclosed that the new bond package, which will be issued for subscription, comprises medium and long-term tranches: a 10-year tranche, a 20-year tranche, in addition to a 40-year dual-listed Formosa tranche.

Commenting on this announcement, H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance, said, "Throughout its development, the UAE has adopted a solid and comprehensive approach to economic and social development, which included building a strong credit profile, a solid balance sheet for the Union, and a low level of government debt, which enhanced general economic stability. In addition to its efforts to enhance the efficiency and skills of human talent, the country has successfully managed to achieve high financial solvency and reserves, as a direct result of its efficient management of economic projects."

The Ministry of Finance authorised Abu Dhabi Commercial Bank, BofA Securities, Citigroup Global Markets Limited, Emirates NBD Capital, First Abu Dhabi Bank, HSBC Bank plc, J.P. Morgan Securities plc,