The Dubai government’s $1.25 billion (Dh4.59 billion) Islamic bond sale sets the stage for issuers in the emirate to take advantage of near record-low borrowing costs as they complete the refinancing of $15 billion this year.
The emirate which narrowly escaped a default in 2009 priced five-year Islamic bonds at 4.9 per cent and ten-year sukuk at 6.45 per cent. The five-year pricing is Dubai’s lowest on record for a dollar-denominated international sale, data compiled by Bloomberg show………………………………………..Full Article: Source