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Dubai government plans $6.5bn bond program

The Dubai government has set up…

October 25, 2009 5:00 by

The Dubai government has set up a $6.5 billion debt borrowing program to raise funds, two bankers told Reuters on Sunday. The program includes a $4 billion Euro Medium Term Note program for

“infrastructure, financing and general budgetary purposes,” and a $2.5 billion Islamic bond, according to reports. The Dubai government and its government-related entities are expected to have total debts of around $80 billion.

The meetings are being arranged by Dubai Islamic Bank, Mitsubishi UFJ Securities International, Standard Chartered and UBS.

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