DUBAI, Oct 4 (Reuters) - The United Arab Emirates federal
government has hired a group of banks for its debut bond
issuance, which will comprise three tranches denominated in U.S.
dollars, bank documents showed on Monday.
Sources told Reuters on Sunday the UAE would start marketing
its inaugural bonds this week. While the federal government has
never issued bonds before, several of the seven emirates that it
comprises have, most notably the capital Abu Dhabi and commerce
hub Dubai.
Abu Dhabi Commercial Bank, BofA Securities
, Citi, Emirates NBD Capital, First Abu
Dhabi Bank, HSBC, JPMorgan,
Mashreqbank and Standard Chartered will hold
investor calls starting on Monday, the documents from banks on
the deal showed.
A debut sale of senior unsecured bonds with maturities of
10, 20 and 40-year bonds under the UAE's Global Medium Term Note
Programme will follow, subject to market conditions. The 40-year
portion will be dual-listed Formosa bonds, which are sold in
Taiwan by foreign borrowers and denominated in currencies other
than the Taiwanese dollar.
(Reporting by Yousef Saba; Editing by Toby Chopra)