Abu Dhabi debt in demand

Abu Dhabi, one of the world’s richest states, is rapidly emerging as the debt capital of the region, producing a flurry of multi-billion dollar bond sales.

Abu Dhabi’s government was the first this year to tap the international debt markets in April, which established a fresh yield curve to ease pricing, and triggered a flood of issuance from state-linked entities. The emirate and its companies have issued more than $12bn of bonds in 2009, and bankers say billions more are in the pipeline.

Thus far, investor appetite seems undeterred by the size and frequency of bond sales coming out of the emirate.
(Delayed posting)