Dubai to go on road to ease investor fears

first_img whatsapp Friday 20 August 2010 2:40 am whatsapp The Dubai government, which is restructuring $23.5bn (£15.1bn) in debt, will launch a roadshow for fixed-income investors in Asia starting on 26 August, a statement said.The plan follows a similar program for European investors in June, as part of the government’s strategy for “providing regular updates to both existing and prospective fixed income investors around the world.”The roadshow was a non-deal one, indicating no immediate bond issue.The meetings, organized by HSBC and Mitsubishi UFJ Financial Group, which are scheduled to take place on August 26 in Hong Kong and August 27 in Singapore, the statement said.Dubai launched a $6.5bn bond programme last October, made up of $4bn euro medium term notes and a $2.5bn Islamic loan. It placed almost $2 billion in five-year Islamic bonds in late October.Dubai’s troubles shut international debt markets to primary issuers from the region for months, but several firms, notably Saudi ones, have tapped the market this year. Despite the uptick in issuance, pricing remains a worry.In April, Dubai utility DEWA DEWATF.UL raised $1 billion in an issue that offered a coupon of 8.5 per cent.The Dubai finance ministry’s 2014 Islamic bond was off 0.35 points to a mid-point of 94.6, with a yield of 7.86 percent.The Gulf Arab emirate is grappling with the debt restructuring of its core state-linked firms in the wake of a long boom that abruptly ended in the collapse of its property market.Last year, Dubai stunned global markets with news it would delay debt payments linked to its flagship conglomerate Dubai World. The firm said in May it had reached a deal in principle to restructure $23.5bn with core bank creditors. Dubai to go on road to ease investor fears John Dunne center_img Share Show Comments ▼ More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at‘Neighbor from hell’ faces new charges after scaring off home‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoBetterBe20 Stunning Female AthletesBetterBeUndoCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndo Tags: NULLlast_img

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