October 3, 2017 / 10:20 AM / in 17 days

Abu Dhabi revises pricing for expected US$10bn offering

LONDON, Oct 3 (IFR) - The Emirate of Abu Dhabi has revised pricing for a triple-tranche bond offering that is expected to raise US$10bn, according to a lead.

The sovereign has revised guidance to 70bp (+/-5bp) over Treasuries from an initial plus 85bp area on a five-year note; to plus 90bp (+/-5bp) from plus 105bp area on a 10-year bond; and to 135bp (+/-5bp) from 150bp area on a 30-year tranche.

Abu Dhabi is expected to price the deal on Tuesday. Bank of America Merrill Lynch, Citigroup, First Abu Dhabi Bank, HSBC and JP Morgan are the lead managers on the 144A/Reg S deal.

Abu Dhabi is rated Aa2/AA/AA. (Reporting by Robert Hogg; editing by Sudip Roy)

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