Following the highly successful debut USD bond launch last year
Ministry of Finance is set to issue a U.S. dollar-denominated dual-tranche sovereign bond offering
The Federal Government of the United Arab Emirates, represented by the Ministry of Finance, announced the plan to issue a Dual-tranche USD Benchmark Size Bonds with a 10-year tranche and a 30-year Formosa tranche.
The 10-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, with 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 United Arab Emirates is rated AA- by Fitch, and Aa2 by Moody’s with a stable outlook for the national economy, another testament to the robust financial and economic policies devised by the country and its global leadership position.