The Emirate of Abu Dhabi issued $5 billion worth of bonds in three tranches, with a strong response from investors indicating confidence in the emirate’s credit standing and economic development strategy.
The issuance was oversubscribed by 4.8 times, with the bond yield representing a margin higher than US Treasury bonds. The first tranche was for 5 years at $1.75 billion with a return of 4.875%, while the second tranche was for 10 years at $1.5 billion with a return of 0.5%. The final tranche was for 30 years at $1.75 billion with a return of 5.5%.
The issuance received an AA rating from Standard & Poor’s and Fitch, reflecting investor confidence in the emirate’s financial stability. Chairman Jassim Mohammed Buataba Al Zaabi emphasized the strong demand from global investors and the conservative management of debt and liquidity, highlighting the emirate’s commitment to maintaining its financial stability in the long term.
Overall, this successful issuance of bonds by the Emirate of Abu Dhabi demonstrates strong investor confidence and positive long-term outlook for the emirate’s financial stability.
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