22.04.2010 - Banks demand higher rates after Dewa bond
From Gulfnews.com: The recent $1 billion (Dh3.67 billion) bond issue by the Dubai Electricity and Water Authority (Dewa), priced at 8.5 per cent, has prompted many banks in the group of Dubai World lenders to demand higher interest on the restructured debt. "If a prominent government-related entity (GRE) is willing to pay 8.5 per cent on its newly issued debt, there should be some parity in the interest payouts on similar debt obligations," a senior banker from the group of 90-plus lenders told Gulf News yesterday.............................................Full Article: Source
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