Dubai is gauging investor appetite for debt issuance of $6.5bn as the emirate seeks to take advantage of easing credit markets to set the commercial hub on a more stable financial footing.
Appetite for its sovereign debt will be crucial as Dubai seeks to refinance its pile of short-term loans and bonds and replace them with longer-term debt.
“Dubai can probably raise money, but the key issue is how much they will have to pay,” said Chavan Bhogaita, head of credit research at the National Bank of Abu Dhabi. “We will have to wait to see what the investor appetite is.”
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