Sunday 26 April 2009

Dubai considers dates for second US$10 billion bond

Dubai is considering at least two dates this year to issue another US$10 billion of bonds, a government executive said on Sunday, as the emirate seeks to raise more funds to support state-linked companies.

Dubai launched a US$20 billion bond programme in February and issued the first half to the United Arab Emirates central bank.

It has since given more than US$5 billion in loans to firms struggling to meet debt and other financial obligations amid a real estate downturn, Nasser al-Shaikh, director-general at Dubai department of finance, said in a radio interview last week.

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