Dubai set to raise $1.5 billion on return to public debt markets

Dubai set to raise $1.5 billion on return to public debt markets

Dubai set to raise $1.5 billion on return to public debt markets

Dubai set to raise $1.5 billion on return to public debt markets

Dubai is set to offer investors about 220 basis points over mid-swaps for 10-year sukuk and about 4.125% for 30-year conventional bonds. (File/AFP)

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Dubai set to raise $1.5 billion on return to public debt markets

It received over $7.5 billion in orders for the debt sale

Updated 02 September 2020

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DUBAI: The government of Dubai started marketing a dual-tranche bond on Wednesday, its first sale in public debt markets in six years, as the Middle East trade and tourism hub seeks to boost finances hit by the coronavirus crisis.

Dubai offered investors about 250 basis points over mid-swaps for 10-year sukuk, or Islamic bonds, and about 4.375 percent for 30-year conventional