28 Sep 2010
(MENAFN) Dubai’s Department of Finance said in a statement that the emirate is going to issue a dollar-denominated sovereign bond and that it appointed a number of banks for the bond sale, Khaleej Times reported.
The size of the bond is not indicated but reports said that it could be worth $1 billion and attributed to legal reasons, the bonds are not going to be for sale in the United States, Japan, Australia or Canada.
According to the department, the response for the bond, Dubai?s first debt sale since last year?s debt crisis, will help assess the level of investor sentiment in Dubai’s economy.
The fixed-coupon bond submission is part of Dubai?s $ 5.2billion medium term note, or EMTN, program, which was established in April 2008.
Dubai?s most recent sovereign bond sale was launched in October 2009. Dubai?s companies face some $30 billion in bond and loan maturities in the next two years alone.
Dubai Government has made a detailed financial exposé ©n a brochure to sustain its $4 billion bond program.
Dubai Government?s direct debt was $29 billion at the end of July.
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more