The Bloomberg News Agency reports that the United Arab Emirates is currently marketing the first federal bonds in its 50-year history and will help finance the Sovereign Wealth Fund’s infrastructure projects and investments..

And the “Bloomberg” news agency quoted a source as saying, “I do not know the name, the bonds will mature in ten to 20 years.”.

The country also offers 40-year double-listed Formosa bonds, which are issued in Taiwan and denominated in a currency other than the Taiwan Dollar..

Abu Dhabi Commercial Bank, Bank of America Securities, Citigroup, Emirates NPD Capital, First Abu Dhabi Bank, HSBC, JB Morgan, Mashreq Bank and Standard Charter were appointed to manage the sales..

Two informed sources said that on Monday, the UAE government is expected to raise between $ 3 billion and $ 3.5 billion from the first sale of the bonds, which will have three installments denominated in US dollars..

Although the United Arab Emirates has not previously issued bonds, some of its seven emirates, including the capital Abu Dhabi and the financial center Dubai, have taken the initiative..

Sources told Reuters on Sunday that the UAE would begin marketing its first bond this week.

Today, documents provided by the banks that carry out the process, as seen by Reuters, show that the Ministry of Finance plans to sell the first batch of unsecured first-class securities for a period of 10, 20 and 40 years, depending on market conditions..

40-year installment Formosa bonds are bonds sold by foreign debtors in Taiwan, denominated in currencies other than the Taiwan Dollar..

The circular for the offering, viewed by Reuters, showed that the proceeds would be used for domestic budget purposes in line with the public debt strategy..

This includes funding for infrastructure projects approved by the Cabinet, with a maximum of 15 per cent of existing direct and indirect UAE public debt not specified in dirhams..

The money will be used to support the investments of the Emirates Investment Commission, the country’s only federal sovereign wealth fund..

These banks will contact investors from today.

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