It has been a year since Dubai shocked financial markets with a request from the state-owned conglomerate Dubai World for a standstill agreement with creditors over claims of about $26bn.
The market turmoil that ensued cut would-be borrowers off from the capital markets. There was no debt capital market issuance from UAE-based borrowers between November 2009 and March 2010, according to Dealogic, the data provider.
But by early this year, Dubai World’s restructuring talks with creditors had made significant headway, allowing borrowers to return to capital markets.
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