Abu Dhabi $5bln multi-tranche bonds listed on ADX

SectorFinancial Markets
CountryUnited Arab Emirates

ABU DHABI: The Abu Dhabi Securities Exchange Sunday started listing of the Emirate of Abu Dhabi Global Medium Term Note Programme total amount of US$5,000,000,000 in three tranches.The listing, announced on ADX's website today, is part of Abu Dhabi’s strategy aimed to optimise the capital structure of the emirate, tapping into diverse funding sources while maintaining the current high credit ratings.Underpinned by strong investor appetite, the bonds are priced at historic low yields. The programme comprises three tranches: a $2 billion 3-year tranche at 0.750 percent; a $1.5 billion long 10-year tranche at 1.7 percent, and a $1.5 billion 50-year tranche due in 2070 at 2.700 percent.As the only AA-rated sovereign issuer by all three rating agencies in the GCC region, Abu Dhabi’s proactive medium-term debt management strategy optimizes the ...read more...