Abu Dhabi government issues USD5 billion worth of bonds
The government of Abu Dhabi issued five- and ten-year bonds amounting to USD5 billion. The five-year USD2.5 billion bond was prices at 85bp spread over US treasuries while the ten-year USD2.5 billion was prices at a spread of 125bps over US treasuries. Order books of the bonds reportedly reached more than USD15 billion, reflecting interest for the rare credit which is rated two notches down from the top AAA grade given by international rating agencies. (Bloomberg, Reuters)
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