Timely repayment of a $500mn bond owed by a unit of Dubai Holding, owned by the emirate’s ruler, will please investors but the focus is on two larger Islamic bonds owed by state-linked firms maturing this year and whether Dubai will step in with financial aid.
The Gulf emirate has clawed its way back from the depths of its crippling 2009 debt crisis, helped by a revival in trade and tourism and its safe-haven status amid the Arab Spring revolts.
No comments:
Post a Comment