Abu Dhabi's $7m bond offering draws strong investor interest - Arabianbusiness:
A $7 billion multi-tranche international bond offering by Abu Dhabi was more than 6.3 times oversubscribed, marking a new record for the emirate.
Abu Dhabi Department of Finance has revealed orders came in from over 100 new accounts and the order book reached in excess of $45bn, despite the economic slowdown caused by low oil prices and the coronavirus pandemic.
Jassim Mohammed Buatabh Al Zaabi, chairman of the Abu Dhabi Department of Finance, said: "The success of the issuance, particularly amidst the global uncertainties caused by the Covid-19 pandemic and the oil price decline, is testament to the continued confidence placed in our aptitude to generate sustainable economic growth.
“Our robust credit fundamentals and strong credit ratings with stable outlooks have enabled us to attract remarkable demand from a diverse pool of investors from the international debt capital markets."
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