Abu Dhabi expected to raise $2 billion in its first bond deal of 2021

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Abu Dhabi is expected to sell $2 billion in seven-year US dollar-denominated bonds on Tuesday and has tightened the price guidance by 20 basis points after it received over $6 billion in orders, a document showed.

Guidance was revised to 50-55 bps over US Treasuries from 70-75 bps over Treasuries earlier in the day, according to the document from one of the banks on the deal, which is expected to launch later in the day.