Emirates News Agency – Ministry of Finance to issue US dollar-denominated dual-tranche sovereign bond offering

0 3

ABU DHABI, 23rd June, 2022 (WAM) — The Federal Government of the United Arab Emirates, represented by the Ministry of Finance, has announced the plan to issue a Dual-tranche USD Benchmark Size Bonds with a ten-year tranche and a 30-year Formosa tranche.

The ten-year tranche will be listed on London Stock Exchange (LSE) and Nasdaq Dubai, and the 30-year tranche will be listed on London Stock Exchange (LSE), Taipei Exchange, and Nasdaq Dubai.

The Ministry of Finance authorised Abu Dhabi Commercial Bank PJSC, Bank of America Securities, Citigroup Global Markets Limited, Emirates NBD Capital, First Abu Dhabi Bank PJSC, HSBC Bank plc, J.P. Morgan Securities plc, Mashreqbank psc, and Standard Chartered Bank to be Lead Managers and Bookrunners to arrange and market to investors.

It also authorised the Industrial and Commercial Bank of China joining the mandated group as Co-Manager.

The issuance of the UAE’s second sovereign bonds will be in accordance with Rule 144A/Regulation S under the Securities Act of the United States. The Federal Government of the UAE is rated AA- by Fitch, and Aa2 by Moody’s, with a stable outlook for the national economy, another testament to the country’s robust financial and economic policies and its global leadership position.

WAM/Rola Alghoul/Binsal AbdulKader

FOLLOW US ON GOOGLE NEWS

Read original article here

Denial of responsibility! Trusted Bulletin is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave A Reply

Your email address will not be published.