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UAE federal bond around $1bn, says finance ministry boss

 
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Kirk
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PostPosted: Wed Feb 29, 2012 7:07 am    Post subject: UAE federal bond around $1bn, says finance ministry boss Reply with quote

Younis al-Khouri, undersecretary and director general at the UAE finance ministry has said the country expects its first ever federal sovereign bond issue to be around $1bn after a public debt law is approved, Reuters has reported. He said the interest rate paid to bondholders to be around 1.2% and said government bonds would be issued at intervals to help finance infrastructure projects. In June 2011, the UAE financial affairs minister, Obaid Humaid al-Tayer said the country may issue its first federal bond toward the end of 2012 with the debt bill then expected to be signed in the summer of 2011.

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