Abu Dhabi - Mubasher: Abu Dhabi completed a $2 billion sovereign bond issuance with a seven-year tenor, the first of its kind in the region, according to the Abu Dhabi media office.

The bonds have enabled Abu Dhabi to expand its investor base, as they are well received by fixed-income investors, including US investment corporates and portfolios.

Abu Dhabi's bond issuance has the tightest yield ever recorded by an emerging market sovereign.

With a peak order book of $6.9 billion, the sovereign bonds were 3.5 times oversubscribed.

It is noteworthy to mention that in early May, Abu Dhabi has set initial price guidance of 70-75 basis points over US Treasuries for seven-year US dollar-denominated bonds.