Dubai plans to tap the international capital markets as early as next week with its first bond issue since the debt standstill in the Gulf emirate shook financial markets last November.
Its government plans to issue about $1bn (€750m) in bonds with maturities of up to seven years amid improving sentiment following an agreement between its flagship group and creditors this month, according to people familiar with the situation.
One banker said: “This is a big test for Dubai. But the fact they are preparing to go is a very good sign. It shows that Dubai is back as far as many investors are concerned. The restructuring has paved the way for this deal.”
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