There you go, just as promised the story of the Dubai Bail Out is already out. Below the story is taken from Reuters. DUBAI GOVT ISSUES $20 BLN OF BONDS, UAE CBANK SUBSCRIBES FOR HALF OF BONDS - STATEMENT
DUBAI GOVT SAYS BOND ISSUE WOULD HELP WITH LIQUIDITY CONSTRAINTS - STATEMENT
DUBAI GOVT SAYS BOND ISSUE WILL HELP MEET FINANCIAL OBLIGATIONS, CONTINUE DEVELOPMENT PROJECTS - STATEMENT
DUBAI GOVT SAYS BONDS TO CARRY FIXED INTEREST RATE OF 4 PCT ANNUALLY WITH MATURITY OF FIVE YEARS - STATEMENT
Dubai launches $20 bln bonds, UAE cbank takes half
DUBAI, Feb 22 (Reuters) - The government of Dubai said on Sunday it has launched a $20 billion bond programme to help the Gulf emirate meet its financial obligations and press ahead with development projects.
The central bank of the United Arab Emirates has subscribed to the first issuance of $10 billion worth of the five-year bonds that carry an annual interest rate of 4 percent, the emirate's finance department said in a statement.
The bonds "will secure the necessary funding for Dubai to meet its financial obligations and continue its development programme", said the emirate, one of seven members in the UAE federation.
(Reporting by Firouz Sedarat and Inal Ersan). The story is from Reuters
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