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Dubai expected to sell $1.5 bln in dual-tranche bonds - document

DUBAI, Sept 2 (Reuters) - Dubai is expected to sell $1.5 billion in dual-tranche bonds and received over $7.5 billion in orders for the deal, a document showed on Wednesday, as the Middle East trade and tourism hub seeks to boost finances hit by the coronavirus crisis.

It tightened price guidance by 30 basis points to around 220 basis points over midswaps for the 10-year sukuk tranche and by 25 bps to around 4.125% for the 30-year bonds it is offering, according to a document issued by one of the banks leading the deal and seen by Reuters. (Reporting by Yousef Saba; editing by John Stonestreet)

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