Dubai plans to raise funds by selling debt based on future revenues at Dubai Duty Free, one of the world's largest airport retailers, sources said.
The emirate's finance department is working in tandem with the Investment Corporation of Dubai (ICD) which owns the retail operator, said the sources.
Dubai is planning to raise at least $500 million from the securitisation of receipts, one banking source said, adding requests for proposals for the transaction were sent to banks and a final mandate was yet to be announced.
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