The UAE government has appointed a number of banks to issue dollar bonds with 10-, 20- and 40-year tranches, including Citibank, Bank of America, First Abu Dhabi, JPMorgan and Standard Chartered .
According to Arabiya Net, citing a government document, the UAE government will start marketing the first dollar bonds at the federal government level as soon as this week, as the government has not issued Federal UAE no bonds before.
Two sources said they expected the deal to be one billion dollars, with a value of between one and two billion dollars.
The federal government passed a law in 2018 allowing the union to begin issuing sovereign debt. It is widely expected that the UAE will also use the program to issue dirham-denominated bonds, a goal the authorities have long held to deepen the country's financial markets.
