ID :
47069
Mon, 02/23/2009 - 14:21
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Shortlink :
https://www.oananews.org//node/47069
The shortlink copeid
Dubai government launches a US$20 billion long term bond programme
Abu Dubai, Feb 23, 2009 (WAM) - As part of its long term financing strategy, Dubai Government today launched a US$20 billion Long Term Bond Program, the first issuance of which, amounting to US$10 billion, was fully subscribed by the Central Bank of the UAE.
The bond is an unsecured fixed rate paper yielding 4pc per annum and has a five year maturity.
This issuance will provide Dubai Government with the necessary liquidity to substitute the liquidity that has dried up globally in the last 12 months and accordingly meet all upcoming financial obligations.
This program will secure the necessary funding for Dubai to meet its financial obligations and continue its development program.
The bond is an unsecured fixed rate paper yielding 4pc per annum and has a five year maturity.
This issuance will provide Dubai Government with the necessary liquidity to substitute the liquidity that has dried up globally in the last 12 months and accordingly meet all upcoming financial obligations.
This program will secure the necessary funding for Dubai to meet its financial obligations and continue its development program.
