Dubai sells $750m Islamic bonds | Dubai sells $750m Islamic bonds -

Dubai sells $750m Islamic bonds

: Wednesday, April 23 - 2014 @ 11:49

Dubai has tapped capital markets for the first time in more than a year, with the sale of $750m of 15-year Islamic bonds, as the emirate seeks to pay debt and finance its budget amid a property-market recovery, Bloomberg has reported. The Dubai government’s securities will price to yield 5%, according to a person with knowledge of the offering. The offering is the emirate’s first since it raised $1.25bn from the sale of 10-year and 30-year bonds in January 2013.

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Wednesday, April 23- 2014 @ 11:49 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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