https://arab.news/jb8z9
RIYADH: The UAE plans to provide investors with high-quality dollar bonds in a bid to satisfy demand driven by rising fears over a potential global recession.
The dollar-denominated bonds will have a maturity of 10 and 30 years, respectively, Bloomberg reported citing unnamed sources.
The 10-year bond’s price will be around 125 basis points higher than treasuries with similar maturity, while the 30-year security will be priced at a spread of 200 basis points.
According to the Bloomberg report, the UAE outperformed fellow Gulf markets this month when it comes to debt issuance, amid efforts by central banks to control inflationary pressures.
The nation’s credit rating by Moody’s Investors Service stands at Aa2, and slightly lower at AA- by Fitch Ratings.