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Emerging MarketsEM Middle East

Abu Dhabi bags negative NIP on longest ever GCC bond

AdobeStock_AbuDhabi_575x375_26Aug2020

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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