Stock Dubai skyline
Investment Corporation of Dubai (ICD), the Dubai government's main investment arm, started marketing long five-year bonds at around 300 basis points over mid-swaps. Image Credit: Ahmed Ramzan/Gulf News

Dubai:  Investment Corporation of Dubai (ICD), the Dubai government's main investment arm, started marketing long five-year bonds at around 300 basis points over mid-swaps, a document showed on Wednesday.

The sale of the benchmark bonds will close later on Wednesday, according to the document issued by one of the banks leading the deal.

Citi, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JP Morgan and Standard Chartered have been hired to arrange the deal.