The Dubai government said on Wednesday that its dual-tranche landmark transaction, which has raised $1.25 billion across a 10-year sukuk and a first-ever 30-year conventional issue, generated an aggregate order book that was 12 times oversubscribed “demonstrating tremendous investor appetite.”
Abdulrahman Al Saleh, Director General, Department of Finance, said the overwhelming response to the transaction shows that the investor community has strongly supported the growth model adopted by Dubai Government.
“We have come a long way since 2009 as a credit and investors who have been with us during the tough times are getting the benefit of the support given to us by them. The sukuk offering complements with the vision of His Highness Shaikh Mohammad bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to establish Dubai as the Global Capital of Islamic finance while the 30-year bond completes the yield curve for Dubai and matches the long-term project requirements of the government,” Al Saleh said in a statement.
Big investor support to Dubai growth model - Khaleej Times
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