Emirates Strategic Investments has launched $700 million in five-year Islamic bonds, according to a document viewed by Reuters on Wednesday.

The firm has set the spread at 180 basis points over the U.S. Treasuries, tighter than initial price guidance of 210 bps over the same benchmark earlier in the day, after the orders topped $1.7 billion, the document said.

(Reporting by Md Manzer Hussain, Editing by Louise Heavens)