Dubai’s Emaar Properties said hiring advisers for dollar bond | GulfNews.com:
"Emaar Properties PJSC, the developer of the world’s tallest tower in Dubai, is considering an international bond issue in the second half of the year, according to three people familiar with the matter.
The real estate company is appointing advisers for the dollar-denominated sale, the people said, asking not to be identified as the matter is private. No final decision has been made and Emaar may also decide against an offering if market conditions are not conducive, they said.
Governments and companies across the six-nation Gulf Corporation Council are tapping international capital markets after the price of oil, the region’s main source of income, slumped by more than half in the past two years. Qatar raised $9 billion (Dh33 billion) via a bond sale last month, a record for the region, and Abu Dhabi issued $5 billion in April. Saudi Arabia may offer as much as $15 billion, Oman has picked banks for a deal and Dubai is mulling a sale."
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