#AbuDhabi expected to raise $3 billion via bonds | Reuters

Abu Dhabi expected to raise $3 billion via bonds | Reuters

Abu Dhabi locked in $3 billion on Wednesday with its second bond sale of the year for which it received more than $9.75 billion in orders for two tranches, a bank document showed.

The emirate sold $1.75 billion in 10-year bonds at 63 basis points (bps) over U.S. Treasuries (UST) and $1.25 billion in 30-year paper at 3%, settling at the lower end of final price guidance, the document from one of the banks on the deal showed.

It had given an initial price guidance of about 90 bps over UST for the 10-year tranche and around 130 bps over UST for the 30-year notes.

BNP Paribas (BNPP.PA), First Abu Dhabi Bank (FAB.AD), JPMorgan (JPM.N), Morgan Stanley (MS.N) and Standard Chartered (STAN.L) arranged the deal.