VOL. XLIV

No. 28

9-July-2001

UAE

Emirates Doubles Dh750Mn Domestic Bond Issue

The Dubai-owned airline Emirates announced on 2 July that it had doubled the amount of its first domestic corporate bond issue from the original Dh750mn ($205.4mn) to Dh1.5bn ($408mn) in response to very strong market demand the first tranche was oversubscribed by two-and-a-half times. MEES understands that the issue also closed prematurely on 28 June due to the strength of investor appetite. The Emirates issue is the...