Dubai launches $1.25bn government bond

30 September 2010

Bond will be sold to investors in two tranches

Dubai launched a $1.25bn government bond yesterday, marking its first round of fund raising since the financial crisis deepened late last year. The bond will be sold to investors in two tranches, one of $500m that matures in five years and another of $750m that matures in 10 years, according to Bloomberg and Reuters reports. The five-year debt is expected to yield 6.7 per cent, while the 10-year debt is expected to yield 7.75 per cent.

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