U.A.E. May Buy Part of Dubai $10 Billion Bond Offer

Central Bank Governor Sultan bin Nasser al-Suwaidi said the United Arab Emirates may buy part of Dubai’s $10 billion bond offering after purchasing the first tranche in February.

“Maybe, if our board decides, we will buy part of them and, of course, start trading these bonds very soon,” he said in a Bloomberg Television interview today in Abu Dhabi.

Dubai has already spent at least half of the $10 billion raised from the sale of five-year bonds in February to the U.A.E. central bank. The sale was part of a $20 billion medium- term note program intended to help state-affiliated companies struggling to raise cash. The second tranche is expected to be sold before the end of the year.