13.06.2011 - Dubai plans as much as $5 bln bonds after yields sink to two-year low
Dubai set up a $5 billion bond program to help bridge its budget deficit and fund investments as yields fell to the lowest in at least two years this month. The Persian Gulf sheikhdom will use proceeds from the dollar-denominated bonds for spending on construction and the budget, according to a prospectus distributed by the Regulatory News Service. Yields on Dubaiís $1.25 billion of sukuk bonds due in 2014 fell to the lowest level since their sale in October 2009 to 4.573 percent on June 1 from as high as 6.69 percent on Jan. 31............................................Full Article: Source
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