UAE - Mubasher: The UAE government is forecast to issue US-dollar denominated bonds for the first time as a federation this week, four sources told Reuters.

Although several emirates in the UAE, including Abu Dhabi and Dubai, have marketed bonds before, the UAE federal government has never issued bonds.

The sources referred that the UAE government has selected banks, including Citi, HSBC, First Abu Dhabi Bank (FAB), JPMorgan, Standard Chartered, and BofA Securities, as advisors for the fundraising exercises.

Two sources expected that the transaction would be a multi-billion dollar deal.