Sunday 12 June 2011

Dubai sets up new $5 bln bond programme | Reuters

Dubai, which is planning a benchmark sovereign dollar issue in coming days as it seeks to bridge a budget deficit, has set up a new $5 billion Euro Medium Term Note (EMTN) programme.

The emirate has hired Mitsubishi UFJ Securities (8306.T), Standard Chartered Bank (STAN.L) and UBS AG (UBSN.VX) as arrangers and dealers for the program, it said in a statement.

Emirates NBD (ENBD.DU) and National Bank of Abu Dhabi (NBAD.AD) will be the dealing banks for the bond program.

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