Investment Corporation of Dubai Plans for US Dollar Debt Issuance

Posted on 10/24/2020

The Investment Corporation of Dubai (ICD) disclosed plans to issue US$ 500 million in U.S. dollar-denominated bonds. ICD hired Citi, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JPMorgan, and Standard Chartered, to arrange investor calls ahead of the issuance.

The issue is a five-year senior unsecured conventional bond with a fixed rate at 275 basis points over mid-swaps.

ICD owns stakes in a number of companies including Emirates airlines and Emirates, a mega Dubai bank.

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