Middle East Economic Survey

VOL. XLVII

No 42

18-October-2004

CAPITAL MARKETS

Dubai Issues $750Mn Islamic Bond For Airport Expansion

Dubai on 10 October launched a $750mn Islamic bond issue to partially finance the planned $4.1bn expansion of the emirates airport. Dubai Islamic Bank, HSBC, Kuwait Finance House, Gulf International Bank and Standard Chartered are joint lead managers for the Ijara Sukuk bonds, with Dubai Islamic Bank and HSBC also operating as joint bookrunners. The bonds will be...