15.09.2010 - Dubai Sukuk ‘massive’ rally ruled out by Citi
From Bloomberg: Dubai’s Islamic bonds, after beating Sukuk from Malaysia this quarter, may face limited gains because the restructuring of Dubai World’s $24.9 billion in debt requires asset sales over eight years. “I don’t think there will be a run-away rally here,” Abdul Kadir Hussain, chief executive officer in Dubai at Mashreq Capital DIFC Ltd., which manages $2 billion of mainly Persian Gulf assets, said in an interview yesterday. “Refinancing risk will occur in five and eight years obviously and the market will continue to see this.”.............................................Full Article: Source
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