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.
