Investment Corporation of Dubai starts marketing five-year bonds

Investment Corporation of Dubai starts marketing five-year bonds

UAE - Mubasher: Investment Corporation of Dubai (ICD), the Dubai government's investment arm, started marketing long five-year US dollar-denominated bonds at around 300 basis points over mid-swaps, Reuters reported.

The ICD, which owns stakes in Emirates Airline and Emirates NBD, will close the benchmark bonds' sale later on Wednesday, according to a cited document issued by one of the banks arranging the transaction.

It is noteworthy to mention that ICD has hired Citi, Emirates NBD Capital, First Abu Dhabi Bank (FAB), HSBC, JPMorgan, and Standard Chartered to arrange for the issuance of fixed-rate and long five-year senior unsecured conventional bonds.