Dubai's Department of Finance yesterday announced that the Government's $500 million (Dh1.8 billion) bond issue was well received by global investors and generated a large order book with 90 investors placing orders worth more than $1.8 billion.
"We are very pleased at the positive market reception to the bond offering, which demonstrates increased investor confidence in the strong long-term value proposition of the Emirate of Dubai," said Abdul Rahman Al Saleh, Director General of the Department of Finance.
"Investors are obviously supportive of the steps taken by the government over the last two years to counter the impact of the financial crisis, and satisfied with the prudent measures implemented to control costs and manage the budget deficit," Al Saleh said.
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