Abu Dhabi sets $3 billion size for five-, 10-year bonds, narrows talk

By Aaron Hochman-Zimmerman

New York, March 31 - The Emirate of Abu Dhabi in the United Arab Emirates set an issue amount of $3 billion for its sale of five- and 10-year bonds (Aa2/AA/AA), to be issued in two equal tranches, according to a market source.

Talk was narrowed on both pieces of the deal. The five-year bonds are now talked at Treasuries plus 400 basis points. The 10-year bonds are now talked at Treasuries plus 420 bps.

Talk for the five-year bonds was revised from the Treasuries plus 425 bps area, while talk for the 10-year bonds was revised from the Treasuries plus 437.5 bps area

The bonds are expected to price early Wednesday in New York.

Citigroup, Deutsche Bank and JPMorgan are bookrunners for the Rule 144A and Regulation S deal.

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