VOL. XLVI

No 20

19-May-2003

CAPITAL MARKETS

Dubai 2003 Bond Subscription Expected To Close 27 May

Following a number of delays, the Dubai government finally launched its Dh1.5bn ($409mn) five-year bond on 11 May and subscription is set to finish on 27 May. The roadshow is taking place on a price discovery basis, allowing the issuer to ascertain how many basis points over the Emirates interbank offer rate would be necessary for full subscription. While the pricing has not yet been decided, there is...