StanChart Arranges $272 Million Debt for Virus-Hit Dubai Economy - Bloomberg:
Dubai raised 1 billion dirhams ($272 million) from the private placement of Islamic bonds as the emirate shores up its finances after the deadly coronavirus shut down much of the economy.
The emirate placed an eight-year sukuk with a 4.71% rate of return, according to data compiled by Bloomberg. Standard Chartered Plc was the sole arranger.
Dubai is among Middle Eastern governments bolstering their finances with debt sales as they face economic disruption due to falling oil prices and the coronavirus. The emirate is discussing other financing options, including its first Eurobond since 2016 and loans, according to people with knowledge of the matter. Abu Dhabi and Qatar raised a combined $17 billion in bond sales this week.
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