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