Emirates Development Bank sells $750mln in five-year bonds

SectorFinancial Markets

DUBAI – , wholly owned by the United Arab Emirates federal government, sold $750 million in five-year bonds at 80 basis points (bps) over mid-swaps after receiving over $3.2 billion in orders for its first international bond sale since 2019, a document showed on Tuesday. The spread was tightened from initial guidance of between 105 and 110 basis points over mid-swaps, the document from one of the banks on the deal showed. Emirates NBD Capital, , Goldman Sachs International, and Industrial and Commercial Bank of China 601398.SS arranged the deal.

(Reporting by Yousef Saba; Editing by Sherry Jacob-Phillips and Louise Heavens) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))

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