The government of Abu Dhabi announced on Tuesday that it has sold bonds worth $10 billion in what was the second such move in the UAE since oil prices started to fall in 2014. According to a statement by the Department of Finance of the oil-rich emirate, the bonds were offered in three groups for a period of 10 to 30 years. The interest rates attached to the bonds range from 2.5 per cent to 4 per cent. The sale attracted investors regionally and globally, with more than 500 applications received, valued in excess of $30 billion. Abu Dhabi is the capital of the United Arab Emirates and the richest of the seven emirates. Last May, it raised $5 billion […]
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