Abu Dhabi comes back to bond market with three-part dollar issue

Abu Dhabi comes back to bond market with three-part dollar issue

Abu Dhabi started marketing on Tuesday a U.S. dollar-denominated bond offering split into three tranches of three, 10 and a half and 50 years, a document showed.

Each bond tranche is of benchmark size, which generally means at least $500 million each, according to the document issued by one of the banks leading the deal and seen by Reuters.

The paper due in 2023 offers investors an initial price of around 95 basis points over U.S. Treasuries and a second tranche due in March 2031 offers around 135 basis points over the same benchmark.

The longest tranche, maturing in 2070, offers around 3%.