Middle East Economic Survey

VOL. LII

No 18

04-May-2009

UAE

Mubadala Bond Issue Follows Abu Dhabi Sovereign Paper

Abu Dhabi government-owned Mubadala Development Company issued a bond last week following the emirates successful tapping of the debt markets, when it issued sovereign paper in early April. Mubadalas $1.75bn five-year issue was priced 395 bps over treasuries, and the $500mn 10-year issue was priced at 462.5 bps over treasuries. This compares to the $1.5bn five-year sovereign, which...