New Issue: Dubai's $500 million 5.591% notes due 2021 yield mid-swaps plus 375 bps

By Christine Van Dusen

Atlanta, June 15 - Dubai sold $500 million 5.591% notes due June 22, 2021 at par on Wednesday to yield mid-swaps plus 375 basis points, a market source said.

The notes priced at the tight end of price whispers, which were set at the 375 bps to 387.5 bps range.

Emirates NBD, HSBC, RBS and UBS were the bookrunners for the Regulation S-only notes.

Proceeds will be used for general budgetary purposes.

Issuer:	Dubai
Amount:	$500 million
Maturity:	June 22, 2021
Description:	Notes
Bookrunners:	Emirates NBD, HSBC, RBS, UBS
Coupon:	5.591%
Price:	Par
Yield:	5.591%
Spread:	Mid-swaps plus 375 bps
Trade date:	June 15
Settlement date:	June 22
Distribution:	Regulation S only
Price talk:	Whispered at mid-swaps plus 375 bps to 387.5 bps

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