ICD began marketing the bonds at around 300 basis points over mid-swaps earlier on Wednesday and received more than $1.1 billion in orders, according to the document issued by one of the banks leading the deal.
Issuers from the Gulf are lining up to take advantage of low interest rates to plug finances hit by cheap oil and the coronavirus pandemic, with Oman also selling bonds on Wednesday in its first issuance since July last year.
The government of Dubai sold $2 billion in bonds last month in its first public debt issuance since 2014 amid a sharp economic downturn that has revived concern over its finances and memories of its 2009 debt crisis.
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