Abu Dhabi: Abu Dhabi said on Sunday that he had sold bonds worth $ 7 billion. This is the third time in the Gulf countries this month that bonds have been sold. These countries are raising funds by issuing bonds after softening oil prices.
Saudi Arabia, which holds a significant position in the Organization of the Oil Exporting Countries (OPK), raised $ 7 billion through bond sales last week. In the case of gas, the rich Qatar raised $ 10 billion by selling the bond two weeks ago. The Finance Department of Abu Dhabi said in a statement that the deal was done in three installments. Two billion dollars in five years, $ 2 billion in 10 years and $ 3 billion bonds will mature after 30 years.
Abu Dhabi, part of the United Arab Emirates, has the largest oil wealth reserves. Abu Dhabi said the bond was subscribed more than six times. The Gulf Cooperation Council (GCC) has the largest government property fund in Abu Dhabi. These are largely dependent on oil income. Six members of the GCC, including Bahrain and Oman, depend heavily on oil revenues for revenue. 65 to 90 percent of their earnings are from oil.
