LONDON, Oct 3 (IFR) - The Emirate of Abu Dhabi has launched a US$10bn triple-tranche bond offering at the tight end of price guidance, according to a lead.
The sovereign has set final terms for a US$3bn five-year note at 65bp over Treasuries; a US$4bn 10-year bond at plus 85bp; and a US$3bn 30-year tranche at plus 130bp.
Abu Dhabi had previously revised guidance to plus 70bp (+/-5bp) from an initial plus 85bp area on the five-year note; to plus 90bp (+/-5bp) from plus 105bp area on the 10-year bond; and to 135bp (+/-5bp) from 150bp area on the 30-year tranche.
Abu Dhabi is expected to price the deal on Tuesday. Bank of America Merrill Lynch, Citigroup, First Abu Dhabi Bank, HSBC and JP Morgan are the lead managers on the 144A/Reg S deal.
Abu Dhabi is rated Aa2/AA/AA. (Reporting by Robert Hogg; editing by Sudip Roy)