The ease with which Dubai was able to tap bond markets this week will act as a catalyst for a string of companies looking to raise debt as demand for credit from the region shows little sign of cooling off among international investors.
However, analysts warn that Dubai is benefiting as much from investors hungry for returns in markets awash with cheap funding as from a belief in its recovering fundamentals.
The US$1.25 billion (Dh4.59bn) sale of bonds and sukuk debt by the Government of Dubai closed in one day as the full details were announced on Wednesday.
Dubai bond sale set to spur credit markets - The National
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