United Arab Emirates Sells $1.5bln in 10-Year Bonds, Document Shows

The United Arab Emirates has launched a sale of $1.5 billion in 10-year bonds, an arranging bank document showed on Tuesday.

The Middle Eastern country has sold the debt at a yield of 60 basis points over U.S. Treasuries, tighter than initial price guidance of 90 bps over the same benchmark after demand exceeded $5.75 billion, the document said.

Crédit Agricole CIB, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JP Morgan and Standard Chartered Bank have been working as joint lead managers and bookrunners.