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Dubai civil aviation may issue US$1 billion bond to repay debt
Source: BI-ME and Bloomberg , Author: BI-ME staff
Posted: Sun October 18, 2009 11:37 pm
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UAE. Dubai Civil Aviation Authority may issue bonds to refinance US$1 billion in debt maturing next month Bloomberg reported, citing  two bankers familiar with the transaction.

Dubai Civil Aviation hired UBS AG, Dubai Islamic Bank, Standard Chartered Plc and Bank of Tokyo-Mitsubishi UFJ Ltd. to manage the Islamic and conventional bond sale, according to the bankers who declined to be identified because details of the deal are private.

The state-owned company raised US$1 billion in 2004 through Dubai Global Sukuk FZCO. The Islamic bonds mature on November 4.

The new issue may signal the return of Dubai state-owned companies to the public debt market after the real-estate slump caused by the global credit crisis dried up funding.

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: February 9, 2010
UAE. Location and quality are driving apartment prices; while average prices decreased, select communities, including Palm Jumeirah and Downtown Burj Dubai, experienced slight increases according to Landmark Advisory's latest quarterly report.
date:Posted: February 8, 2010
INTERNATIONAL. Trying to achieve financial goals by pouring all of one's assets into emerging markets today, telecommunications tomorrow, and Japanese small-cap stocks next week is not a guarantee for achieving a sound financial plan.
date:Posted: February 8, 2010
INTERNATIONAL. The latest survey shows 46% of respondents expect their business travel to increase, marking a rise by 22 points compared with figures of the same period in 2009.