Emirates Development Bank sells $750 mln in five-year bonds | Reuters

Emirates Development Bank sells $750 mln in five-year bonds | Reuters

Emirates Development Bank, wholly owned by the United Arab Emirates federal government, sold $750 million in five-year bonds at 80 basis points (bps) over mid-swaps after receiving over $3.2 billion in orders for its first international bond sale since 2019, a document showed on Tuesday.

The spread was tightened from initial guidance of between 105 and 110 basis points over mid-swaps, the document from one of the banks on the deal showed.

Emirates NBD Capital (ENBD.DU), Standard Chartered (STAN.L), Goldman Sachs International (GS.N), and Industrial and Commercial Bank of China (601398.SS) arranged the deal.