Dubai Sells First Bonds in 15 Months With $750 Million Sukuk - Bloomberg:
"Dubai tapped capital markets for the first time in more than a year with the sale of $750 million of 15-year Islamic bonds as the emirate seeks to pay debt and finance its budget amid a property-market recovery.
The Dubai government’s securities will price to yield 5 percent, according to a person with knowledge of the offering, who asked not to be identified because the details are private. The offering is Dubai’s first since it raised $1.25 billion from the sale of 10-year and 30-year bonds in January 2013.
Dubai, the second-biggest of seven members in the United Arab Emirates federation, has improved investor confidence since teetering on the brink of default more than four years ago. The city’s economy grew at the fastest pace since 2007 last year and its budget deficit is set to narrow by 41 percent in 2014 to 882 million dirhams ($240 million), according to official forecasts."
'via Blog this'
No comments:
Post a Comment