Abu Dhabi Sells $3 Billion in Dollar Bonds Amid EM Surge

Abu Dhabi raised $3 billion from a sale of dollar bonds in its first debt offering of the year.

The oil-rich emirate, the largest of seven in the United Arab Emirates, issued five year and 10-year notes, according to a person familiar with the matter who asked not to be identified. The tranches will yield 0.2 and 0.25 percentage point above Treasuries, respectively, about 30 basis points below initial price talk, the person said. Orders peaked at more than $12.7 billion.