UAE rules out sovereign bond issue for at least two years

14 March 2012

UAE Finance Minister Sheikh Hamdan bin Rashid al-Maktoum has ruled out plans to issue the country's first federal sovereign bond for at least two years, Reuters has reported. Earlier reports quoted other senior ministry officials as saying the UAE's debut sovereign bond could come at the end of 2012, once a long-awaited public debt law is approved, and be worth about $1bn. Sheikh Hamdan has also said that Dubai's state-linked companies, which have been undergoing restructuring since a debt crisis in 2009/10, were in good shape.

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