Abu Dhabi issues three-tranche US dollar-denominated bonds

Abu Dhabi issues three-tranche US dollar-denominated bonds

UAE - Mubasher: Abu Dhabi has issued US dollar-denominated bonds with three tranches of three, 10 and a half, and 50 years, Reuters reported.

Each bond tranche has a benchmark size of at least $500 million each, according to the document published by one of the banks leading the deal.

The banks arranging the deal are Citi, Deutsche Bank, First Abu Dhabi Bank (FAB), Morgan Stanley, and Standard Chartered.

Due in 2023, the first tranch has an initial price offering of about 95 basis points over US Treasuries, while the second tranche, with a maturity date of March 2031, offers about 135 basis points.

Meanwhile, the longest tranche, due in 2070, offers a