Dubai set to raise $1.5 billion on return to public debt markets

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Wed, 2020-09-02 22:52

DUBAI: The government of Dubai started marketing a dual-tranche bond on Wednesday, its first sale in public debt markets in six years, as the Middle East trade and tourism hub seeks to boost finances hit by the coronavirus crisis.
Dubai offered investors about 250 basis points over mid-swaps for 10-year sukuk, or Islamic bonds, and about 4.375 percent for 30-year conventional bonds, according to a document issued by one of the banks leading the deal and seen by Reuters.