The Investment Corporation of Dubai (ICD), the emirate's sovereign wealth arm, has no current plan to issue a bond this year and will likely pay off a $2 billion loan that is due next year, the fund's CEO told Reuters in an interview on Friday.
"ICD at the moment does not have any liquidity requirement," Mohammed al-Shaibani said on the sidelines of the Sarajevo Business Forum organised by the fund's subsidiary in Bosnia. "But our subsidiaries are issuing bonds according to their needs," he added, referring among others to the Dubai Islamic Bank (DIB) that is planning to issue a benchmark-sized, dollar-denominated Islamic bond, or sukuk.
Shaibani said the ICD was still evaluating options for its $2 billion loan due next year, part of a $6 billion loan. The fund paid off the first tranche of $4 billion last year.
No comments:
Post a Comment