Abu Dhabi draws strong demand as it sells first 30-year bond

Abu Dhabi draws strong demand as it sells first 30-year bond:

"Abu Dhabi sold its first ever 30-year sovereign bond on Tuesday as part of a $10 billion triple-tranche debt issue that drew heavy demand. The sale followed a $12.5 billion bond issue by Saudi Arabia last week – the largest emerging market bond sale in 2017 - and was the latest jumbo sovereign offering from Gulf states tapping the debt markets in a period of low oil prices. Abu Dhabi has long been seen as the safest credit among Gulf Cooperation Council sovereigns and its issue on Tuesday, of five, 10 and 30 year maturities, had attracted more than $30 billion in demand, a document issued by one of the banks leading the deal showed."



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