Dubai's $1.25 Billion Islamic Bond to Price Wednesday
Dubai is planning to raise $1.25 billion from a two-tranche Islamic bond sale on Wednesday, with final price guidance for both tranches tighter than indicated initially.
April 25, 2012 2:59 by kippreport
Dubai is planning to raise $1.25 billion from a two-tranche Islamic bond sale on Wednesday, with final price guidance for both tranches tighter than indicated initially.
The price range for the five-year portion was set at between 4.90 and 4.95 percent and for the ten-year at between 6.45 percent and 6.50 percent, arranging banks said, indicating healthy appetite for the new issue. Each tranche will be at least $500 million.
Citi, National Bank of Abu Dhabi, Dubai Islamic Bank and HSBC are bookrunners on the deal, the emirate’s first after nearly a year. It last tapped debt markets with a $500 million 10-year issue in June.
(Reporting by Rachna Uppal; Editing by Amran Abocar)
More on GCC
-
First report by Etisalat covering global footprint
-
Kuwaiti Oil Service Workers On Strike Over Pay – Union
-
Qatar’s Doha Bank May Sell Bonds To Raise Capital – CEO
-
Qatar to announce new energy infrastructure fund
-
Qatar Holding, Italy Fund Eying Versace – Paper
-
Saudi government websites targeted
-
NCoV – First report of patient-to-nurse spread
-
Saudi regulations target stock market speculators
-
Dubai’s Arqaam Capital Eyes South Africa, Saudi Expansion
-
U.S. Targets Two UAE Firms For Dealing With Blacklisted Iran Banks
-
Airbus officially picked by Kuwait Airways
-
GMR reveals top 50 Mena Corporate Brands
-
Kuwait Airways to sign $3 billion-plus Airbus deal
-
Abu Dhabi Tourism Company Loss Widens
-
Emirates Airline reaps expansion profits
-
Saudi Arabia has 13 cases of SARS-like Coronavirus – WHO
-
UAE Central Bank Shuts Two Money Exchange Firms For Violations
-
Emal plans further expansion
-
Dubai looking at alternatives to repay debt
-
Two more die in Saudi Arabia from SARS-like virus – WHO
Lately on Kipp
-
First report by Etisalat covering global footprint
-
Qatar Should Consider More Flexible Exchange Rate – Central Banker
-
Kuwaiti Oil Service Workers On Strike Over Pay – Union
-
Qatar’s Doha Bank May Sell Bonds To Raise Capital – CEO
-
Yahoo on Tumblr: ‘we promise not to screw it up’
-
Sourcefire Delivers Unprecedented Visibility And Tracking Of Malware
