Middle East Economic Survey
Investors Snap Up $1.25Bn Dubai Sovereign Bond
Investors have shown a strong appetite for Dubai sovereign debt, snapping up the $1.25bn paper. Issued last week, it was the first foray into the markets by the emirate after a key state company, Dubai World, was hit by a debt crisis in November 2009. The issue came in oversubscribed, with orders totaling $5bn. The bond was split into two maturities, with the $500mn five-year issue...