More UAE dollar bonds expected next year, local currency issues to follow | Reuters
The United Arab Emirates federal government will be in the market next year for more dollar bond issuances and is working on plans to issue local currency debt, a finance ministry official said on Wednesday.
The UAE made its debt capital markets debut a week ago to raise $4 billion. The UAE government had never issued bonds before but several of the seven emirates have, most notably the capital Abu Dhabi and commerce hub Dubai.
Individual emirates will remain free to issue debt according to their own needs and priorities, said Younis Al Khoori, the undersecretary of the Ministry of Finance.
Local currency bonds will be issued "in due time" and no specific date has yet been set for the next dollar issuance, Khoori said.
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