Dubai issues $2 bln in sukuk and bonds
The Dubai government on Thursday (September 3) issued $2 billion in sukuk and bonds.
The sukuk is a ten-year $1 billion issue that carries a profit rate of 2.763%, said the Dubai Media office.
The $1 billion conventional bond is a thirty-year paper with an interest rate of 3.9%.
These were the lowest-ever rates for ten-year sukuk and thirty-year bonds issued by the Dubai government, said director of the Department of Finance Abdulrahman Saleh Al Saleh.
Key stats from the two issuances:
- Order book exceeded $10 billion
- Global investors made up 84% of total investors for the conventional bond
- Five banks were mandated to work on the issues: Dubai Islamic Bank, Emirates NBD, First Abu Dhabi Bank, HSBC, Standard Chartered Bank
- Read the statement from the Dubai Media Office here
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