MIDEAST DEBT-Dubai deal may be imminent, bankers say | Reuters

MIDEAST DEBT-Dubai deal may be imminent, bankers say | Reuters:

"* Talk of possible deal mounts since World Expo announcement

* Expo will require billions of dollars of financing

* Emerging market environment has turned positive

* Outstanding Dubai bonds performing well

* Size of debt pile likely to limit scope of issuance

By Abhinav Ramnarayan

LONDON, Jan 13 (IFR) - Rumours of a bond issue by Dubai are gathering pace as debt capital markets bankers covering the Middle East say a deal may be imminent.

The emirate was one of the first issuers from the Gulf in 2013 with a dual tranche 10-year sukuk and 30-year conventional note, and may be one of the early issuers this year as well, bankers told IFR.

"The noise around Dubai has been growing of late. There have been rumours ever since the World Expo announcement, but we're hearing a lot more since the turn of the year," one emerging markets syndicate banker said, referring to the announcement in late November that Dubai would host the world's fair in 2020."

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