UAE sells US$1.5bil debt in first deal since September

This will be only the country’s fourth eurobond as a federal entity. — Bloomberg

ABU DHABI: The United Arab Emirates (UAE) sold its first Eurobonds since September, offering investors 10-year dollar debt.

The country priced US$1.5bil with a spread 60 basis points above the US Treasury curve, after demand exceeded US$5.75bil, according to a person familiar with the matter.