Received more than $8.5bln in orders for its second international debt sale of the year
Egypt’s parliament — the House of Representatives — approved on Sunday a new bill that will open the door for the government to issue Islamic Sharia-compliant sovereign bonds (Sukuk) on local and foreign markets.
The dollar denominated shariah-compliant sale will be used for general corporate purposes, the oil company said in a Saudi stock exchange filing.
Kuwait’s Ahli United Bank (BKME.KW) has hired banks to arrange the issuance of Additional Tier 1 U.S. dollar-denominated sukuk that will be non-callable for 5-1/2 years, a document seen by Reuters showed on Monday.
Dubai-listed Emirates REIT made no indication it’s willing to compromise with a group of creditors that rejected its proposal to exchange $400 million of sukuk securities for new notes.
Abu Dhabi state fund Mubadala began marketing a two-tranche U.S. dollar-denominated bond deal on Thursday, a document showed, returning to the debt markets less than three months after it raised $1.1 billion.
Final price guidance was tightened to between 4.25% and 4.375% from initial guidance of around 4.5%
Emirates NBD Capital, First Abu Dhabi Bank, JPMorgan, HSBC, NCB Capital and Standard Chartered will arrange fixed-income investor calls
The bill includes 24 articles, and was approved by the cabinet last November. It aims to contribute to improving the state’s financial performance, and achieving the short- and long-term objectives of covering the budget deficit.
Global forecasts of a “stable” to “negative” change on Kuwait’s sovereign debt rating requires “serious work” to complete financial reforms, Finance Minister Khalifa Hamadeh said on Wednesday
Rawabi Holding Company successfully closes the fourth series under its SAR 2.5 billion Sukuk program
The Fourth Series follows three successful issuances since the Sukuk Programme was established in March 2020.
Number of riyal-denominated issuances to rise as local market develops, says S&P
Emirates NBD Capital, the investment banking arm of Emirates NBD, one of the leading banking groups in the Middle East, North Africa and Turkey region, has recorded its strongest ever quarter in the debt capital markets.
Fitch Ratings has assigned Abu Dhabi Ports Company PJSC (ADP) a first-time Long-Term Issuer Default Rating (IDR) of ‘A+’ with a Stable Outlook.
The amount of green, social and sustainable bonds in issuance has grown to $1.4tn
The regulator also extended the Dh50bn Targeted Economic Support Scheme until the end of the year
AT1 bonds, the riskiest debt instruments banks can issue, are designed to be perpetual in nature but issuers can call them after a specified period
Qatari telecom operator Ooredoo launched a 10-year bond sale on Wednesday to raise $1 billion at 100 basis points over mid-swaps after receiving more than $3.2 billion in demand
Transaction was executed under the bank’s $2bln Euro Medium Term Note Issuance Program.
Britain sold 500 million pounds ($686 million) of a sovereign Sukuk in its second foray in the Islamic finance market, the finance ministry said on Thursday.
The country’s deficit is set to narrow as the current account returns to surplus in 2021
Jeddah-based Islamic Development Bank has hired a group of banks to arrange an issuance of five-year U.S. dollar denominated sustainability sukuk, or Islamic bonds
Citi, NBK Capital, Standard Chartered, Abu Dhabi Islamic Bank, Boubyan Capital, Emirates NBD Capital, Kamco Invest, Kuwait International Bank and KFH Capital will arrange investor calls
Cash-strapped Oman is getting a shot at redemption with investors without recourse to a bailout from wealthier neighbors.
Bank Muscat sold $500 million in five-year bonds on Wednesday at 4.75% after receiving more than $1.6 billion in orders for the debt sale,
Abu Dhabi state fund Mubadala has tightened guidance for two-tranche euro-denominated bonds comprising six- and 13-year paper after receiving over 2 billion euros ($2.41 billion) in combined orders
Bonds in Ezdan Holding Group slumped after S&P Global Ratings said Qatar’s biggest property developer faces the risk of a default or debt restructuring.
Saudi Arabia joined the ranks of countries that get paid to borrow in euros as the outlook for the kingdom turns favorable with a recovery in oil prices.
Saudi Arabia’s Riyad Bank has sold via private placement 3 billion riyals in Tier 2 sukuk.
Egypt raised $3.8 billion in its first international bond sale of the year, taking advantage of low borrowing costs as it seized on demand from investors from the U.S. to Asia.
First Abu Dhabi Bank, the largest lender in the United Arab Emirates, raised 750 million euros ($907.73 million) through the sale of five-year bonds on Tuesday, its debut euro-denominated issue
First Abu Dhabi Bank gave initial price guidance of around 115 basis points over UK gilts for sterling-denominated bonds due in December 2025, a document showed on Tuesday.
Qatar’s Commercial Bank is planning to raise at least $1 billion through bond issues in the coming months, Chief Executive Joseph Abraham said, as the bank looks to take advantage of positive market conditions to boost its capital.
National Commercial Bank (NCB) completed issuing additional Tier 1 sukuk at a value of $1.25 billion (SAR 4.69 billion)
Oman Electricity Transmission Company has hired banks to arrange a U.S.-dollar denominated issuance of seven-year or 10-year bonds, a document showed on Monday.
Individual emirates such as Dubai, Abu Dhabi, and Sharjah, have already become issuers of international debt.
The Bank has mandated Citigroup Global Markets Limited, Emirates NBD Capital, Goldman Sachs International, J.P. Morgan Securities plc, MUFG Securities EMEA plc, NCB Capital Company and Standard Chartered Bank as Joint Lead Managers and Bookrunners for the potential offer.
Aircraft leasing firm Dubai Aviation Enterprise has raised $1.25 billion through the sale of four and seven year unsecured dollar bonds
First Abu Dhabi Bank, the UAE’s largest lender by assets, raised 1.5 billion Chinese yuan ($232 million) through the sale of a five-year formosa bond.
First Abu Dhabi Bank, the UAE’s biggest bank by assets, raised $500 million through a benchmark sukuk, the first global Sharia-compliant bond offering of the year, as it continues to diversify its funding base.
The five-year paper offers an initial price guidance of 100-105 basis points over mid-swaps
Dubai’s Emirates NBD confirmed that it has issued a $750 million five-year senior bond on Wednesday, January 6, which will mature on 2026.
The bank hired Emirates NBD Capital, ICBC, ING, Mizuho Securities and Standard Chartered for the potential benchmark deal
The implementation of a 5% value-added tax in Oman this year is seen bringing in 300 million rials ($779 million).
The combined deficits of GCC countries is set to narrow to $84.3bn this year from $127bn in 2020.
Notes will be traded on secondary markets, which will help to set a pricing benchmark for dirham-denominated debt securities
The GCC summit on January 5 may reveal the scope of any agreement.
Saudi Arabia’s economy will grow 3.2 per cent in 2021 as the kingdom recovers from a slowdown induced by the Covid-19 pandemic and continues to spend on infrastructure projects.
Kuwait’s second largest conventional bank by asset size, has placed $500 million Subordinated Tier 2 Capital Securities (bonds) in the international debt capital markets.
Kuwait’s emir on Monday approved a new cabinet that included new ministers of oil and finance for the OPEC member state which is mired in its worst economic crisis in decades.
Egypt wants to get its local debt settled by Euroclear Bank SA in less than a year and introduce its first floating-rate bonds by mid-2021
The UAE government has kept its Aa2 sovereign rating – the highest in the region – with a stable outlook from global ratings agency Moody’s Investors Service.
Kuwait reports progress towards ending Gulf dispute
The company aims to raise at least $500m early next year after it launches new 10bn riyal domestic market sukuk programme
DAE began marketing the Islamic bonds at around 4.375% earlier on Thursday.
Saudi Arabia’s Acwa Power International, half-owned by the kingdom’s sovereign wealth fund, is planning to raise about $1 billion by selling Islamic bonds early next year
Kuwait International Bank sold $300 million Tier 2 sukuk, or Islamic bonds, on Tuesday at 2.375% and received more than $2.4 billion in orders for the Islamic bonds.
Oman is discussing a loan of at least $1 billion with a group of banks, sources said, as the oil-producing Gulf state seeks more funding ahead of heavy debt redemptions over the next two years.
Islamic banks face more complexities than conventional banks in the transition away from legacy interbank offered rates (IBORs), given their additional need to ensure sharia compliance,
Kuwait International Bankhas hired banks to arrange investor calls starting on Wednesday for the planned issuance of Tier 2 U.S. dollar-denominated 10-year sukuk that are non-callable for five years,
Saudi Aramco was set to raise $8 billion from a five-part bond deal on Tuesday as the world’s largest oil producer seeks cash after low oil prices dented its finances.
An issuance of 5-1/4-year senior unsecured sukuk will follow, subject to market conditions
The move is part of an onslaught on international debt markets by Gulf issuers seeking to plug finances hit by the pandemic and weak oil prices
National Bank of Kuwait has given initial price guidance of 2.875% for $300 million in Tier 2 bonds with a 10-year maturity that are non-callable for five years
Saudi Aramco said on Monday it has hired a group of banks ahead of a multi-tranche U.S. dollar-denominated bond issuance, as the world’s largest oil company seeks to raise cash amid lower oil prices.
Dubai Islamic Bank began marketing on Thursday U.S. dollar-denominated Additional Tier 1 sukuk, or Islamic bonds, at an initial price guidance of around 5.25%
The Government of Oman represented by the Ministry of Finance (MoF) has announced the successful completion of Series 4 of the Omani Rial Sukuk issuance programme.
The ‘AA-‘ rating applies to the federal government of the UAE. It reflects the UAE’s moderate consolidated public debt level, strong net external asset position and high GDP per capita.
Saudi Arabia’s outlook was cut to negative from stable by Fitch Ratings as the coronavirus pandemic and lower oil prices clobber the kingdom’s finances.
The United Arab Emirates will likely issue its first federal bonds by the end of the year or in the first quarter of 2021, UAE newspaper Al Roeya said,
citing a finance ministry official.
The UAE permitted the federal government to begin issuing sovereign debt in 2018, which is usually sold by individual emirates.
DUBAI – Commercial Bank of Dubai has hired a group of banks to arrange a global investor call ahead of a potential issuance of U.S. dollar-denominated perpetual bonds, a document showed on Monday.
The Islamic Corporation for the Development of the Private Sector, (ICD), a multilateral development financial institution and the private sector arm of the Islamic Development Bank Group (IsDBG), announced a successful completion of the pricing of a five-year $600 million Sukuk issuance at MS + 140bps.
DUBAI- The Islamic Corporation for the Development of the Private Sector, part of Jeddah-based Islamic Development Bank Group, sold $600 million in sukuk on Wednesday, a document showed.
Egypt pulled in orders for nearly five times the $750 million size of the Middle East and North Africa’s first sovereign green bond, as it pushes ahead with anti-pollution and renewable energy projects.
Maait explained that Egypt has a portfolio of eligible green projects worth $1.9bn, of which 16% are in the field of renewable energy. A further 19% are in clean transportation, 26% in sustainable water and sanitation management, and 39% in pollution reduction and control.
DUBAI, Sept 22 (Reuters) – Oman plans to issue U.S. dollar-denominated bonds soon, targeting $3 billion to $4 billion with the deal, two sources said, as the Gulf state seeks to bolster finances badly hit by a slump in oil prices.
Emirates Islamic Bank has successfully closed the issuance of five-year Sukuk worth $500 million from its $2.5 billion Certificate Issuance Programme.
Citi, First Abu Dhabi Bank, HSBC and Standard Chartered have been mandated to arrange the potential deal
DUBAI: Emirates Islamic Bank sold $500 million in five-year sukuk, or Islamic bonds, on Wednesday after receiving around $1.1 billion in orders for the debt sale, a document showed.
It hired Emirates NBD Capital, HSBC, The Islamic Corporation for the Development of the Private Sector, and Standard Chartered to arrange investor calls
It gave initial price guidance of around 170 basis points over midswaps for a tranche of five-year sukuk and around 200 bps over midswaps for a 10-year sukuk tranche
DUBAI, Sept 3 (Reuters) – Saudi Basic Industries Corp (SABIC), the world’s fourth-biggest petrochemicals firm, sold $1 billion in dual-tranche bonds on Thursday, as Gulf debt markets pick up after the summer break.
Saudi Basic Industries Corp, the world’s fourth-biggest petrochemicals firm, has hired banks to arrange the sale of U.S. dollar-denominated 10-year bonds and 30-year Formosa bonds
The bond issue was nearly five times oversubscribed and the three-year note was priced at the lowest rate for a Gulf sovereign
It tightened price guidance by 30 basis points to around 220 basis points over midswaps for 10-year sukuk tranche and by 25 bps to around 4.125% for 30-year bonds
DUBAI- Qatar’s Ahli Bank sold $500 million in five-year bonds at 165 basis points (bps) over midswaps and received more than $1.9 billion in orders for the debt sale, a document showed on Tuesday.
Data from prospectus with Dubai’s planned offering of bonds, Islamic securities
One of the sources said FAB, the largest bank in the United Arab Emirates, will likely issue $750mln in AT1 bonds
DUBAI – The government of Dubai started marketing a dual-tranche bond on Wednesday, its first sale in public debt markets in six years, as the Middle East trade and tourism hub seeks to boost finances hit by the coronavirus crisis.
Bahrain is under fiscal strain despite a $10bn bailout package pledged by its wealthier neighbours in 2018
It has mandated Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, and Standard Chartered to arrange the calls, which will begin on Monday
DUBAI, Aug 26 (Reuters) – Qatari Islamic lender Masraf Al Rayan began marketing a five-year U.S. dollar-denominated sukuk on Wednesday, a document showed.
It gave an initial price guidance of 220 basis points over midswaps for the Islamic bonds, the document from one of the banks arranging the deal showed. It is expected to close later on Wednesday.
Ratings agency Fitch has cut the credit ratings of several Omani banks and companies after downgrading the sovereign itself earlier this month for the second time this year, it said on Wednesday.
DUBAI – Abu Dhabi began marketing on Tuesday a U.S. dollar-denominated bond, in its third foray into the international debt markets this year as the oil-rich emirate props up its finances following a fall in crude prices.
Masraf Al Rayan hired Al Rayan Investment, Credit Agricole, HSBC, Mizuho, MUFG, QNB Capital, Societe Generale and Standard Chartered to arrange investor calls
The appointment of a new finance minister and chairman of the country’s central bank pave the way for fiscal and economic reforms, according to analysts.
DUBAI- The government of Abu Dhabi is in talks with banks for a new international bond issue, sources said, having already raised $10 billion via debt issues this year to prop up its finances amid low oil prices and the coronavirus crisis.
DUBAI/RIYADH, Aug 18 (Reuters) – Saudi Basic Industries Corp 2010.SE, the world’s fourth-biggest petrochemicals firm, has picked banks to arrange a U.S. dollar denominated bond issue, two sources said, as corporates and governments in the Gulf seek to raise cash amid a recession.
Fitch Ratings – Hong Kong – 17 Aug 2020: Fitch Ratings has downgraded Oman’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-‘ from ‘BB’. The Outlook is Negative.
KUWAIT- The Kuwait parliament’s financial and economic committee rejected the proposed public debt law that would allow the government to borrow 20 billion dinars ($65.43 billion) over 30 years, the committee head said on Sunday.
Fitch Ratings – Hong Kong – 14 Aug 2020: Fitch Ratings has downgraded Bahrain’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B+’ from ‘BB-‘. The Outlook is Stable.
State Street has bolstered its Middle East presence after opening its first office in Saudi Arabia.Based in Riyadh, State Street Saudi Arabia Financial Solutions will provide investment services and asset management for institutional investors in the region. It is licensed to conduct agency-based dealing, discretionary portfolio management, advising and custody activities.
As a global leader in credit ratings and research, Fitch is recognized in the Middle East for in-depth research and analysis across all major sectors including Corporate, Structured, Islamic Finance, Financial Institutions, Government, Infrastructure, and Project Finance. Our analytical teams have a global perspective with local market expertise which is valued by investors in the Middle East and across the globe.
Sovereign sukuk issuance in the Gulf is expected to pick up pace in the second half of this year, driven by higher government funding needs amid lower oil prices and the pandemic-driven economic slowdown, according to Moody’s Investors Service.
UAE – Mubasher: The Arab Monetary Fund (AMF) has signed an agreement with the Central Bank of the UAE (CBUAE) to provide settlement services in dirham (AED) through its Buna platform, a multi-currency payment platform.
First Abu Dhabi Bank, the UAE’s largest lender by assets, has raised 3.6 billion Chinese yuan (Dh1.8bn) through the sale of a five-year formosa bond.
The issue is the largest denominated in Chinese yuan globally, FAB said in a statement on Tuesday. Formosa deals refer to bonds issued in Taiwan by foreign borrowers, but are denominated in currencies other than the Taiwanese dollar.
Moody’s Investors Service downgraded the Lebanese government’s issuer rating to C, its lowest grade, saying there is a high likelihood of “significant losses” for private creditors.
Government funding needs in the Gulf Cooperation Council (GCC) have increased significantly in 2020, as low oil prices and the economic repercussions of the COVID-19 pandemic have significantly widened governments’ fiscal deficits. We expect total GCC government debt to increase by a record-high of about $100 billion in 2020 alone, with an additional $80 billion run-down in government assets to finance an aggregate GCC central government deficit of about $180 billion. Based on our macroeconomic assumptions, we expect to see GCC government balance sheets continue to deteriorate up until 2023.
Formosa bonds are sold in Taiwan by foreign borrowers and are denominated in currencies other than the Taiwanese dollar
DUBAI, July 13 (Reuters) – Sharjah, the third-largest emirate of the United Arab Emirates, has hired banks to arrange the issuance of U.S. dollar-denominated 30-year Formosa bonds, a document showed on Monday.
Bahrain Bourse specified that the subscription period through the registered brokers is effective on July 9, 2020 until of July 15, 2020
Fitch Ratings – London – 07 Jul 2020: Fitch Ratings has assigned DP World Salaam Limited’s (DPWS) USD1.5 billion hybrid Sukuk instruments final ratings of ‘BB’ with a Stable Outlook. The final rating is in line with the expected rating assigned on 22 June 2020.
Oman is seeking a $2 billion bridge loan from international and regional banks, a source familiar with the matter said on Friday, confirming a report by LPC, a fixed income news service owned by Refinitiv.
Kuwait International Bank (KIB) has received preliminary approval from the Central Bank of Kuwait (CBK) on 30 June for a Sukuk issuance programme.
AMMAN — Jordan, on behalf of the Ministry of Finance and in cooperation with the Central Bank of Jordan, on Tuesday issued a double-tranche Eurobond at $500 million at 4.95 per cent over five-year maturity and $1.25 billion at 5.85 per cent over 10-year maturity.
National Commercial Bank (NCB) has completed the issuance of additional tier 1 sukuk denominated in Saudi riyals by way of a private placement.
Fabrice Susini, CEO of Saudi Real Estate Refinance Co. (SRC), said that the size of the local mortgage market stood at nearly SAR 240 billion by the end of Q1 2020, expecting growth to reach SAR 800 million by 2028.
The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, announced the issuance of a benchmark USD750 million dollar-denominated five-year bond, as part of its USD3 billion Global Medium-Term Note (GMTN) program.
The bank has hired Emirates NBD Capital, HSBC and Standard Chartered to coordinate the potential deal, with Bank of America, Citi, and First Abu Dhabi Bank also involved
The Maldives government will be selling over US$ 300 million worth Sukuk bonds in the international market, the country has revealed.
DUBAI- Dubai-based port operator DP World is expected to sell about $1.5 billion in perpetual sukuk, or Islamic bonds, at 6.125%, a document showed on Wednesday.
APICORP gave initial price guidance of around 130 basis points over midswaps for the notes
DUBAI- Dubai Islamic Bank (DIB), the largest Islamic lender in the United Arab Emirates, sold $300 million in a reopening of its existing sukuk issuance maturing in 2026, a document showed on Tuesday.
Qatar National Bank, the Gulf’s biggest lender by assets, is set to raise 1.2 billion Chinese yuan ($170 million) through five-year bonds it sold on Monday with a 3.85% annual rate, according to a document detailing terms of the issue seen by Reuters.
UBAI, June 22 (Reuters) – Port operator DP World has hired a group of banks for a potential sale of perpetual U.S. dollar-denominated Islamic bonds or sukuk, a document showed on Monday.
JAKARTA – The government of Indonesia issued $2.5 billion in wakalah global sukuk in three tranches on Wednesday (June 17), one of which was a green sukuk.
The Islamic Development Bank (“IsDB”) raised US$ 1.5 billion with its first-ever Sustainability Sukuk to tackle the aftermath of the COVID-19 pandemic in its Member Countries.
Heavy reliance on external borrowing comes against the backdrop of dwindling foreign reserves
The financing plan comes as Egypt’s economy suffers from the impact of the coronavirus outbreak
Fitch Ratings-Dubai/London-17 June 2020: Fitch Ratings says that the recent volatility in key Islamic finance markets caused by the coronavirus pandemic, oil price fall and cuts in central banks repo rates highlights the need to use effective sharia-compliant derivatives as hedging tools (tahawwut). However, derivatives markets remain underdeveloped in most countries where Islamic finance is prevalent.
DUBAI, June 17 (Reuters) – Jeddah-based Islamic Development Bank began marketing five-year U.S. dollar-denominated sukuk on Wednesday, a document showed.
Fitch Ratings – London – 16 Jun 2020: Fitch Ratings has downgraded DP World PLC’s (DPW) Long-Term Issuer Default Rating (IDR) to ‘BBB-‘ from ‘BBB’ and Short-Term IDR to ‘F3’ from ‘F2’. The Rating Watch Negative has been resolved, and the Outlooks have been revised to Stable.
First Abu Dhabi Bank, the UAE’s largest lender by assets, issued a dual-listed, 1.4 billion Chinese yuan (Dh726.4 million) five-year formosa bond.
TUNIS: Tunisian Prime Minister Elyes Fakhfakh said on Sunday he had decided against the use of more external debt and that all new expenses that arise for the country would be funded only through internal loans.
The chief executive of Dubai Islamic Economy Development Centre outlined the phases for the development of a unified legal framework for Islamic finance during a meeting to discuss Dubai’s contribution to the Islamic economy.
Shareholders of Oman’s Taageer Finance Company have approved the issuance of up to 10 million Omani riyals ($25.97 million) unsecured and unconvertible secondary bonds.
S&P Global Ratings said it has taken fewer ratings actions on banks globally in May due to measures taken by lenders to protect their balance sheets from the impact of the Covid-19 pandemic.
Dubai Islamic Bank (DIB), the largest Sharia-compliant lender in the UAE, closed a $1 billion (Dh3.67bn) 5-year sukuk with a profit rate of 2.95 per cent despite a challenging global environment due to the coronavirus pandemic.
Oman’s Sultan has appointed Abdulsalam al-Murshidi as the head of the Omani Investment Authority, a new state entity replacing the sultanate’s sovereign wealth funds, Omani state television reported on Monday.
French investment bank Natixis said on Tuesday it has appointed Barbara Riccardi as the regional head of its Middle East operations and Simon Eedle as the senior country manager for the UK branch.
Turkey’s Treasury and Finance Ministry announced on Tuesday that it had reached a deal with the international central securities depository Euroclear Bank to enable greater investor access to the local government bond market.
Islamic bonds issued by Dubai’s Meraas Holding, a state-linked property developer, have shot up in value after the government announced the company would come under the umbrella of the ruler of Dubai’s investment vehicle Dubai Holding.
The ratings agency cut its price assumptions for Brent crude to $35 per barrel for 2020 and $45 for 2021
The United Arab Emirates (UAE) economy is likely to contract by 3.6% this year after economic activity slowed because of the coronavirus pandemic, the central bank said on Wednesday.
Sharjah Islamic Bank has hired banks to arrange the sale of benchmark dollar sukuk, three sources with knowledge of the matter told Reuters.
The Central Bank of Bahrain (CBB), in collaboration with Bahrain Bourse, has rolled out a new Murabaha Sukuk Service that will be fully Shari’ah compliant. The new Islamic liquidity and borrowing tool is a major step forward
Sharjah Government initiates 4 billion dirham Sharjah Liquidity Support Mechanism to alleviate economic impact of COVID-19
Sharjah, United Arab Emirates(AETOSWire): Sharjah Finance Department (SFD) recently established a framework worth AED 4 billion to enhance liquidity for the Sharjah banking system in the emirate. This move was aimed at providing additional financial assistance to all businesses impacted by the outbreak of COVID-19.
Oman is setting up the Oman Investment Authority to own and manage most of the country’s sovereign wealth fund and finance ministry assets
Abu Dhabi: The Emirate of Abu Dhabi on May 19, 2020 successfully reopened its recent multi-tranche international bond offering with a $3 billion tap issue, which attracted strong investor interest.