Dubai asked lenders seeking to manage its recent sovereign bond sale to offer the government a $500 million loan over three years at 300 basis points over the London interbank offered rate, the Financial Times reported, citing two senior bankers with knowledge of the matter.
One regional banker who was asked to participate described the process as “pay to play,” the FT said.
It’s not known whether mandated banks Deutsche Bank AG, HSBC Holdings Plc and Standard Chartered Plc, have given commitments to make additional loans to Dubai, the newspaper said.
No comments:
Post a Comment