Abu Dhabi Offers Second Dollar Bond for 2021 Amid Low Yields
- The emirate sold bonds maturing in 10- and 30-year tranches
- Yield on its debt issued in May trades near an all-time low
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Abu Dhabi returned to international debt markets for the second time this year with a two-part dollar-denominated offering to take advantage of low borrowing costs.
The oil-rich capital of the United Arab Emirates sold $3 billion in 10- and 30-year maturities on Wednesday. The 10-year $1.75 billion tranche priced at 63 basis points over Treasuries, down from an initial price target of 90 basis points. Abu Dhabi also sold $1.25 billion in a 30-year tranche that priced at a 3% yield.