UAE - Mubasher: Abu Dhabi has set initial price guidance of 70-75 basis points over US Treasuries for seven-year US dollar-denominated bonds, Reuters reported.

The US dollar-denominated bonds are expected to price later on Tuesday, as shown by a cited document from one of the banks arranging the deal.

Citi, First Abu Dhabi Bank (FAB), HSBC, JPMorgan, and Standard Chartered are joint lead managers and joint bookrunners in this transaction.

It is noteworthy to mention that in August 2020, Abu Dhabi has issued US dollar-denominated bonds with three tranches of three, 10 and a half, and 50 years, with a benchmark size of at least $500 million each.