UPDATE 3-Abu Dhabi sells $3 billion in bonds with April re-opening - Reuters:
Abu Dhabi sold $3 billion in bonds on Tuesday with a tap of dollar bonds issued last month, a document showed, as governments in the Gulf seek extra cash amid the coronavirus pandemic and a slump in oil prices.
Oil-rich Abu Dhabi issued in April $7 billion in bonds due in 2025, 2030 and 2050, just after a jumbo $10 billion bond sale by Qatar.
Considered among the best credits in the region, Abu Dhabi, the capital of the United Arab Emirates, received around $45 billion in orders for the April deal.
It has now gone back to the markets with a bond tap, where an existing transaction is reopened for subscription using the same documentation as before. It is set to raise $3 billion more, according to a document issued by one of the banks leading the deal and seen by Reuters.
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