Dubai’s finance department denied asking lenders for a $500 million loan as part of an arrangement to sell a sovereign bond, al-Bayan newspaper reported today without saying where it obtained the information.
The Financial Times reported yesterday that the emirate asked lenders seeking to manage its recent sovereign bond sale to offer the government a $500 million loan over three years at 300 basis points over the London interbank offered rate. The newspaper cited two senior bankers with knowledge of the matter.
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