The UAE issued $1.5 billion in 10-year sovereign bonds, and the bonds will be listed on the London Stock Exchange and Nasdaq Dubai, according to a statement issued by the UAE Ministry of Finance.
The bonds mature in September 2033 with a yield of 4.917%, representing a margin of 60 basis points over the same-term US Treasury bond yield.
The country received purchase orders worth $7.4 billion, with subscription equivalent to five times the issue size, which led to a reduction in pricing by 25 basis points from the opening pricing.
The offering was managed by a group of lead managers and lead managers including Abu Dhabi Commercial Bank, BNP Paribas, Citigroup Global Markets, Emirates NBD Capital, First Abu Dhabi Bank, and H. SBC, Goldman Sachs, Mashreq Bank and Mizuho Bank.
The geographical allocation for the 10-year segment was distributed between 45% for investors from the Middle East, 21% for American investors, 11% for Asian investors, 9% for investors from the United Kingdom, and 14% for European investors.
2023-09-19 03:42:32
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