The proceeds of the bond, the first by the government of Dubai, will be used to meet the costs of the IMF/World Bank meetings due to be held in the emirate in September (MEED 6:12:02).

The lead-arranging group comprises HSBC, Standard Chartered Bank, National Bank of Dubai, National Bank of Abu Dhabiand Emirates Bank International (EBI). The dirham-denominated bond will not be rated but will be listed on the Dubai Financial Market (DFM – stock exchange).

ABN Amrohas been involved in providing advice to the government of Dubai.