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Abu Dhabi Sells $10 Billion, Tapping Demand for Quality Bonds

  • Emirate priced dollar securities due 2024, 2029 and 2049
  • Abu Dhabi’s credit rating is among the strongest in the region
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Abu Dhabi sold $10 billion of bonds in its first international offering in two years. Netty Ismail reports.(Source: Bloomberg)
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Abu Dhabi sold $10 billion of bonds in a three-part deal in its first international offering in two years as it takes advantage of relatively low borrowing costs.

The oil-rich emirate sold $3 billion of five-year fixed notes, $3 billion of notes due 2029 and $4 billion of 30-year notes. The sovereign -- which boasts the third-highest grade from Moody’s Investors Service and S&P Global Ratings -- didn’t need to offer an extra premium to its yield curve to attract investors.