Dubai Emirates airline's bond yield is falling to a record low as the world's biggest international carrier reaps the benefit of a recovery in Middle East passenger traffic and growing appetite for higher-yielding Dubai assets.
The yield on the Dubai-based company's 5.125 per cent dollar notes maturing in June 2016 dropped 73 basis points this year to 4.44 per cent Thursday, the lowest since they were sold in June. The retreat outpaces a 27 basis-point drop in average yields on corporate bonds from the six-nation Gulf Cooperation Council to 4.96 per cent March 7, the HSBC/Nasdaq Dubai GCC Conventional Corporate US Dollar Bond Index shows.
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