UAE - Mubasher: The UAE Ministry of Finance is planning to issue U.S. dollar-denominated dual-tranche sovereign bonds with a 10-year tranche and a 30-year Formosa tranche.

The 10-year tranche will be listed on London Stock Exchange (LSE) and Nasdaq Dubai, while the 30-year tranche will be listed on LSE, Taipei Exchange, and Nasdaq Dubai, according to a press release on Thursday.

The Ministry authorised several banks to be lead managers and bookrunners in the transaction, including Abu Dhabi Commercial Bank (ADCB), Bank of America Securities, Citigroup Global Markets Limited, Emirates NBD Capital, First Abu Dhabi Bank (FAB).

Meanwhile, the Industrial and Commercial Bank of China will join the mandated group as co-manager.

This issuance is the UAE's second sovereign bond offering.