#Dubai Raises $1.5 Billion From Private Bond Placement - Bloomberg

Dubai Raises $1.5 Billion From Private Bond Placement - Bloomberg

Dubai’s government raised $1.5 billion this week by reopening existing debt instruments, data compiled by Bloomberg show.

Emirates NBD Capital, a unit of Dubai’s biggest bank, was the sole manager of the transactions on Nov. 23 and 24, according to the data.

The transactions:

• $150 million and $100 million from reopening a September facility of $1 billion {DUGB 3.9 09/09/50 Govt DES <GO>}
• $300 million and $200 million from reopening a January 2013 facility of $500 million {DUGB 5 ¼ 01/30/43 Govt DES <GO>}
• $300 million and $200 million from reopening a September Islamic facility of $1 billion {DUGB 2.763 09/09/30 Govt DES <GO>}
• $150 million and $100 million from reopening an April 2014 facility of $750 million {DUGB 5 04/30/29 Govt DES <GO>}

The yield on Dubai’s bond due 2050 was at 4.17% on Tuesday, compared
with a high of 4.39% in September.