Abu Dhabi bags negative NIP on longest ever GCC bond

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Abu Dhabi bags negative NIP on longest ever GCC bond

Mariam Meskin
August 26, 2020 12:45 pm
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ABU DHABI, UNITED ARAB EMIRATES - FEB 10, 2019: Etihad Towers in Abu Dhabi, United Arab Emirates after sunset | monticellllo - stock.adobe.com

The Aa2/AA/AA rated Emirate of Abu Dhabi raised $5bn on Tuesday, securing a negative new issue premium on a trade that included the longest ever tenor raised in the Gulf. The inclusion of a 50 year tranche, bankers say, is testament to the borrower's standing as an elite credit.

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Topics

Standard CharteredDeutsche BankMorgan StanleyUnited Arab EmiratesMiddle EastCitiEmerging MarketsEMEAEM Middle EastGCCMiddle East Bonds
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Mariam Meskin
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