Proceeds from Dubai’s new $1.25bn, two-tranche Islamic bond provide enough funds for the Gulf emirate to manage its budget deficits and refinancing plans, a senior government official said.
Dubai priced on Wednesday a $600mn 5-year tranche at 4.9% and a $650mn 10-year tranche at 6.45% and the department of finance said the issues drew orders of more than $4.5bn……………………………………….Full Article: Source