HSBC Holdings expects Dubai to meet its upcoming debt obligations this year and said international banks' appetite to refinance the emirates' liabilities will not be impacted by the euro zone crisis.
Government-related entities in Dubai have bonds worth $3.8 billion maturing in 2012, according to a Moody's report last month. Data from The Royal Bank of Scotland show that the total value of Dubai loans maturing this year are over $5 billion.
"We're not concerned with regards to Dubai's ability to meet its debt obligations, that's not only in the medium term but certainly in the context of this year," Paul Skelton, regional co-head of global banking, Middle East North Africa, at HSBC told Reuters in an interview.
No comments:
Post a Comment