Tuesday 31 March 2009

Abu Dhabi's bond issue gains pace

Bankers on the Abu Dhabi bond roadshow arrived in London today, having spent the past few days talking to investors in the US.

Citigroup, Deutsche Bank and JPMorgan Chase are looking to raise between US$2 billion (Dh7.34bn) and $3bn for the Department of Finance.

The offer is part of the emirate’s plan to eventually borrow up to $10bn in the international capital markets, and will be a significant test of how the global financial crisis may affect economic development plans.

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