Investment Corporation of Dubai Plans Bond Sale | GulfNews.com:
"Investment Corporation of Dubai, which holds some of the emirate’s main assets, is planning to tap the debt market just weeks after its government received strong demand for a $750 million Islamic bond sale.
Dubai is looking to take advantage of lower yields and increased appetite for its paper as it benefits from a strong rebound after the global financial crisis, raised cash late last month to help finance its fiscal debt, pay for infrastructure projects and to refinance more expensive obligations.
ICD has mandated several banks to arrange fixed-income investor meetings in Asia, the Middle East and Europe starting this week, according to a document from one of the lead managers, and may issue a US dollar bond depending on market conditions. Citi, Dubai Islamic Bank, Emirates NBD Capital, HSBC and Standard Chartered Bank are arranging the meetings for ICD."
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