Dubai is planning to raise $1.25 billion from a two-tranche Islamic bond sale on Wednesday, with final price guidance for both tranches tighter than indicated initially.
The price range for the five-year portion was set at between 4.90 and 4.95 percent and for the ten-year at between 6.45 percent and 6.50 percent, arranging banks said, indicating healthy appetite for the new issue.
Sources said order books were almost $4 billion when books closed at about 0830 GMT.
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