Abu Dhabi Expects to Raise $10 Billion From Dollar Debt Sale
- Mandates BofA, Citi, HSBC, FAB, JPM to arrange the bond sale
- Abu Dhabi plans to raise in five-, 10-, 30-year tranches
Abu Dhabi Considers Raising $10B From Bond Sale
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Abu Dhabi, home to about 6 percent of the world’s oil reserves, aims to raise $10 billion from a dollar bond sale as early as Tuesday to help plug a budget deficit.
Encouraged by Saudi Arabia’s $12.5 billion sale last week, the biggest sovereign deal in emerging markets this year, Abu Dhabi opened books on Monday for a three-part offering ranging from five to 30 years, people familiar with the matter said, declining not to be identified because the talks are private. Order books closed in excess of $30 billion, the people said.