The Emirate of Abu Dhabi has started selling its triple-tranche benchmark debt, fixed income news service IFR reported on Tuesday.
Abu Dhabi has set initial prices guidance for its 5-year and 10-year debt sale at around 70 and 85 basis points over U.S. Treasuries respectively, while initial price guidance for the 30-year debt transaction has been placed around 125 bps over the same benchmark, the IFR said.
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ADCB, Citigroup Global Markets Limited, FAB, HSBC Bank, J.P. Morgan Securities plc, Morgan Stanley & Co. International, and Standard Chartered Bank are working on the debt sale transaction as joint lead managers, IFR showed.
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