UAE to issue multi-tranche bond offering

Web Desk BOL News

08th Oct, 2021. 01:32 pm

DUBAI: The UAE’s Ministry of Finance is set to issue a dollar-denominated multi-tranche bond offering for subscription, including medium- and long-term tranches, Arab News reported.

The new bond package includes a 10-year tranche, a 20-year tranche, and a 40-year dual-listed Formosa tranche.

The ministry expects a high demand on the subscription of the UAE’s sovereign bonds from global and regional investors.

“The UAE has adopted a solid and comprehensive approach to economic and social development, which included building a strong credit profile, a solid balance-sheet for the union, and a low level of government debt, which enhanced general economic stability,” Emirati Minister of Finance Maktoum bin Mohammed bin Rashid Al-Maktoum said.

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