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UAE federal government hires banks to issue first three-tranche dollar bonds

UAE federal government hires banks to issue first three-tranche dollar bonds
The hired banks comprise ADCB and BofA Securities

UAE - Mubasher: The UAE federal government has hired banks to market its first bond issuance of three US dollar-denominated tranches, according to bank documents as cited by Reuters.

The hired banks comprise Abu Dhabi Commercial Bank (ADCB), BofA Securities, Citi, Emirates NBD Capital, First Abu Dhabi Bank (FAB), HSBC, JPMorgan, Mashreqbank, and Standard Chartered, which will arrange investor calls starting on Monday.

With a maturity of 10, 20 and 40 years, a debut sale of senior unsecured bonds under the UAE's Global Medium Term Note Programme will follow, subject to market conditions.

On Sunday, 3 October, sources told Reuters that the UAE government is forecast to issue US-dollar denominated bonds for the first time as a federation this week.