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Dubai May Sell $5 Billion of Bonds After Yields Sink to Low (1)

12/06/2011 11:23:15 AM GMT   Comments ()     Add a comment   Print     E-mail to friend

Dubai may sell as much as $5 billion of bonds to help finance its budget deficit and fund investment after yields fell to the lowest in at least two years this month.

The Persian Gulf government will use proceeds from the dollar-denominated bonds for infrastructure spending and “budgetary purposes,” it said in a prospectus distributed by the Regulatory News Service on June 10. Yields on Dubai’s $1.25 billion of sukuk bonds due in 2014 fell to the lowest level since their sale in October 2009 at 4.573 percent on June 1 from as high as 6.69 percent on Jan. 31, according to data compiled by Bloomberg. The yield was last at 4.76 percent. Wire External Story - Read full article here is not responsible for the content of external internet sites

Source: AJP

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